in-the-money if the strike price is above the market price of the underlying stock.
* A call or put option is at-the-money if the stock price and the exercise price are the same (or close).
* A call option is out-of-the-money if the strike price is above the market price of the underlying stock.
* A put option is out-of-the-money if the strike price is below the market price of the underlying stock.

Mathematical formula

A call option has positive monetary value at expiration

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