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CORPORATE AND INSTITUTIONAL GLOSSARY


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I
Current TermIn-The-Money
In-The-Money
A term describing any option that has intrinsic value. A call option is in-the-money if the underlying forward/future/spot at its current price is higher than the strike price of the call. A put option is in-the-money if the underlying forward/future/spot price is less than the strike price of the put.