What Condition Must Be Met for a Call Option to Have Intrinsic Value?

A Call option has Intrinsic Value when the current market price of the underlying asset is higher than the option's strike price. The Intrinsic Value is calculated as the difference between the underlying price and the strike price.

If the underlying price is equal to or less than the strike price, the Call option is considered at-the-money or out-of-the-money, and its Intrinsic Value is zero.