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At the Money
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The market price or rate of the underlying and the strike price or rate of an at- the-money option are equal. If the current market price of the stock is $80, an option to buy a stock at a strike price of $80 is at the money. With increasing frequency, particularly in currency markets, the phrase refers to the forward price associated with the current spot price, as in 'at-the-money forward.' See also In the Money, Out of the Money.
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