Define “In-The-Money,” “At-The-Money,” and “Out-Of-The-Money” Options.
In-The-Money (ITM) means the option has intrinsic value (immediate profit if exercised). At-The-Money (ATM) means the strike price equals the underlying price.
Out-Of-The-Money (OTM) means the option has no intrinsic value. For a call, ITM means Strike Spot.
