Strike Price
The fixed price at which an option's buyer can buy (call) or sell (put) the underlying.
Every listed option is defined by three things: the underlying, the expiry, and the strike price. NIFTY options list strikes in steps of 50 points, BANKNIFTY in steps of 100, FINNIFTY in steps of 50 — the exchange sets the step, not the trader.
Where spot sits relative to a given strike is what determines that option's moneyness — at, in, or out of the money.
Example: with NIFTY at 24,970, the listed strikes nearby are 24,900, 24,950, 25,000, 25,050 — each 50 points apart. A BANKNIFTY chain with spot at 51,230 instead lists 51,100, 51,200, 51,300 — 100 points apart, a wider step for a pricier, more volatile index.
Related terms
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