Strike price

Il prezzo fisso al quale un’opzione può essere esercitata — il punto di riferimento attorno al quale una call o una put genera il proprio payoff.

The strike price is the price at which an option lets you buy (with a call) or sell (with a put) the underlying, if you decide to exercise. It's fixed the moment the contract is created and never changes, so it acts as the reference point for everything else: whether the option is in or out of the money, how much premium it costs, and how fast its value moves as the stock shifts.

In practice you pick a strike based on where you think the stock is going and how much you're willing to pay. Say a stock trades at 100. A call with a 105 strike is cheaper because the stock still has to climb 5 points before it has any intrinsic value, while a 95 strike call already carries real value built in and costs more. Lower-priced far-out strikes look tempting, but they only pay off if the move is large enough within the time you have.

A common mistake is treating a cheap strike as a good deal on its own. An out-of-the-money option can lose its entire premium even if the stock rises, simply because it never reached the strike before expiration. Always read the strike together with the expiry date and the distance the price actually has to travel.

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Tutti i termini sulle opzioni

Solo per uso didattico. Le quotazioni sono ritardate di circa 15 minuti e nulla di ciò che è riportato qui è consulenza finanziaria. Il trading di opzioni comporta un rischio sostanziale di perdita.