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How Does the Strike Price Determine the Moneyness of a Crypto Option?

The strike price is the fixed price at which the underlying crypto can be bought or sold. Comparing the current market price of the crypto to the strike price determines moneyness.

For a Call, a lower strike price means higher moneyness (more ITM). For a Put, a higher strike price means higher moneyness (more ITM).

Explain the Concept of “Moneyness” (ITM, ATM, OTM)
What Is Meant by an Option Being ‘In-the-Money’ (ITM), ‘At-the-Money’ (ATM), or ‘Out-of-the-Money’ (OTM)?
What Is the Difference between an ITM, OTM, and ATM Call Option?
If a BTC Call Has a 30k Strike and BTC Is 35k, What Is the Intrinsic Value?