at the money
- A point at which the strike price of an option is the same as the market price of the underlying security. For example, if the stock in company ABC is trading at 50, then the ABC50 option is at the money. If an option is at the money, it is at a breakeven point, excluding the cost of commissions.
- A term used to describe an option with a strike price that is equal to the prevailing market in its underlying asset. In the forex market, an additional distinction is typically made between at the money spot options that have their strike price equal to the spot rate for the underlying currency pair, and at the money forward options that have their strike price equal to the forward rate pertaining to the option's delivery date.