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How Does the Premium Change as an OTM Option Moves Closer to Being ATM?

As an OTM option's underlying crypto price moves closer to the strike price, the option's premium increases. This is because the extrinsic value increases as the probability of the option expiring ITM rises.

The option's Delta also increases, causing the premium to rise more rapidly with subsequent favorable price movements in the underlying asset.

How Does an Option’s Moneyness Affect Its Premium?
Why Are Options on Highly Volatile Assets More Expensive?
What Is Delta and How Does It Relate to an Option Being ITM, OTM, or At-The-Money (ATM)?
How Does Implied Volatility Affect the Extrinsic Value of a Crypto Option?