How Is Moneyness Different for Call Options versus Put Options?
For a call option, it is in-the-money (ITM) when the underlying asset's price is above the strike price. Conversely, a put option is ITM when the asset's price is below the strike price.
A call option is out-of-the-money (OTM) if the asset price is below the strike, while a put is OTM if the asset price is above the strike. Both are at-the-money (ATM) when the strike price and asset price are the same.