An option with a strike price that is equal, or approximately equal, to the current market price of the underlying futures contract. Chicago Board of Trade glossary
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( ATM option)
The option with the exercise price closest to the current price of the underlying instrument. LIFFE
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at-the-money option UK US noun [C] STOCK MARKET
► an option (= right to buy or sell shares, etc.) that has no value because shares can be bought or sold at their present price: »
By definition, all at-the-money and out-of-the-money options have intrinsic values of zero.
→ Compare IN-THE-MONEY OPTION(Cf. ↑in-the-money option), OUT-OF-THE-MONEY OPTION(Cf. ↑out-of-the-money option)
Financial and business terms. 2012.