EXERCISE OR STRIKE PRICE
exercise or strike price
The price at which the buyer of a call can purchase the commodity during the life of the option, and the price at which the buyer of a put can sell the commodity during the life of the option. Chicago Mercantile Exchange Glossary
exercise price
The price at which the holder ( buyer) may purchase or sell the underlying futures contract upon the expiration of an option. Also called strike price. Chicago Mercantile Exchange Glossary