EXERCISE VALUE

exercise value: translation

The value of an in-the-money option if it was exercised today (before the expiration date). For a call option, this is the difference between the current asset price and the strike price. For a put option, it is the difference between the strike price and the current asset price. Bloomberg Financial Dictionary

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For a call option, this is the amount by which the strike price is below the underlying investment; for a put option, it is the amount by which the strike price is above the underlying investment. Exchange Handbook Glossary

Exercise value: translation

The amount of advantage over a current market transaction provided by an in-the-money option. The New York Times Financial Glossary