Intrinsic Value vs Strike Price

The immediate exercise value of an options contract if exercised today; for a call option: max(0, spot price − strike price); for a put option: max(0, strike price − spot price); an option with intrinsic value is in-the-money.

The fixed price at which the holder of an options contract has the right to buy (call) or sell (put) the underlying cryptocurrency asset; also termed exercise price; determines moneyness (in-the-money, at-the-money, out-of-the-money) at any given moment.