An option having intrinsic value. A call option is in-the-money if its strike price is below the current price of the underlying futures contract. A put option is in-the-money if its strike price is above the current price of the underlying futures contract. The amount by which an option is in-the-money. Chicago Board of Trade glossary
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in-the-money option UK US noun [C] STOCK MARKET
► an option (= right to buy or sell shares, etc.) which has value because shares, etc. can be bought for less than their present price, or sold for more than their present price at the time the option is used
→ Compare AT-THE-MONEY OPTION(Cf. ↑at-the-money option), OUT-OF-THE-MONEY OPTION(Cf. ↑out-of-the-money option)
Financial and business terms. 2012.