Strike the fixed price at which the option can be exercised. Where it's taught Options: Calls, Puts, and the Hockey-Stick Payoff Try it with a calculator Options Calculator Appears in 1 other lesson Disability Insurance: Insuring Your Paycheck, Not Just Your Stuff Related terms Break-evenCall / putIn / out of the moneyIntrinsic valueLong / shortPremiumTime valueWriting (selling) an option