At-The-Money (ATM)
The strike closest to the current spot price — carries the most time value on the chain.
The ATM strike has the least intrinsic value of any strike (technically none) but the richest time value, because it's the strike whose fate is least certain — spot could finish above or below it. That's why ATM straddles are the standard way to price the market's expected move: the combined ATM call and put premium is the market's own bet on how far spot travels before expiry.
DeltaK's Quantum Horizon line is drawn at exactly this point on a live chain — the ATM boundary separating in-the-money calls from in-the-money puts, redrawn tick by tick as spot moves.
Example: with NIFTY at 25,000, the 25,000 call and put might trade around ₹180 and ₹150. Add them together — ₹330 — and that's the chain's own implied move for the week: roughly ±330 points either side of 25,000 priced in, before a single session has played out.
Call strikes
Put strikes
↑ Quantum Horizon — the ATM strike, spot's current position
Related terms
See it read live, not just diagrammed
Quantum Horizon reads Aegis/Zenith wall migration and RRG rotation live across NIFTY, BANKNIFTY, FINNIFTY and MIDCPNIFTY — sign in and watch it work in Paper mode.