{"id":45194,"date":"2023-03-23T15:40:38","date_gmt":"2023-03-23T14:40:38","guid":{"rendered":"https:\/\/staging.captrader.com\/glossar\/moneyness\/"},"modified":"2025-07-07T10:05:42","modified_gmt":"2025-07-07T08:05:42","slug":"moneyness","status":"publish","type":"glossar","link":"https:\/\/www.captrader.com\/en\/glossar\/moneyness\/","title":{"rendered":"Moneyness"},"content":{"rendered":"

Moneyness is a Key figure in options trading<\/strong>which, taking into account the exercise price of the Option<\/a> and the current market price of the underlying. In practical trading, the concrete calculation of moneyness often plays a subordinate role for private traders, while the terms \"In The Money\", \"At The Money\" and \"Out Of The Money\" associated with it have become almost indispensable in the daily language of options traders.<\/p>\n\n\n\n

Definition Moneyness<\/h2>\n\n\n\n

The Moneyness<\/em> describes the Ratio<\/strong> of the exercise price of an option to the current price of the underlying. The term \"moneyness\" can be translated as \"closeness to money\" or \"position to money\". Depending on whether the price of the underlying is above the strike price of a call or put option, below it, or at the same level, the terms \"moneyness\" and \"moneyness\" are used. In The Money<\/em> (in the money), Out Of The Money<\/em> (out of the money), or At The Money<\/em> (at the money) used.<\/p>\n\n\n\n

Am Geld \/ At The Money (ATM)<\/h2>\n\n\n\n

An option whose strike price is identical to the current market price of the underlying (or is close to the current market price or is the closest strike price) is called \"At The Money\" (ATM).<\/p>\n\n\n\n

Im Geld \/ In The Money (ITM)<\/h2>\n\n\n\n

A Call option<\/a>A financial instrument with a strike price below the current market price of the underlying is referred to as \"in the money\" (ITM).<\/p>\n\n\n\n

Likewise, a Put option<\/a>The exercise price of an option is higher than the current market price of the underlying, and is referred to as \"in-the-money\" (ITM).<\/p>\n\n\n\n

Aus dem Geld \/ Out Of The Money (OTM)<\/h2>\n\n\n\n

A call option whose strike price is higher than the current market price of the underlying is called \"Out Of The Money\" (OTM).<\/p>\n\n\n\n

Similarly, a put option whose strike price is below the current market price of the underlying is referred to as \"Out Of The Money\" (OTM).<\/p>\n\n\n\n

\"CapTrader_Moneyness\"
Moneyness of a put option<\/figcaption><\/figure>\n\n\n\n
\"CapTrader_Moneyness\"
Moneyness of a call option<\/figcaption><\/figure>\n\n\n\n

Moneyness calculation<\/h2>\n\n\n\n

Moneyness can be calculated from the strike price and the current price of the underlying by dividing one by the other, depending on whether it is a call or a put.<\/p>\n\n\n\n

Calculate moneyness of a call<\/h3>\n\n\n\n

The moneyness of a call option is calculated as follows:<\/p>\n\n\n\n

Moneyness call = price of the underlying\/strike price<\/p>\n\n\n\n

Calculate moneyness of a put<\/h3>\n\n\n\n

The moneyness of a put option is calculated as follows:<\/p>\n\n\n\n

Moneyness put = exercise price\/price of the underlying<\/p>\n\n\n\n

    \n
  • For ATM options, this always results in a moneyness of 1,<\/li>\n\n\n\n
  • the moneyness of ITM options is greater than 1,<\/li>\n\n\n\n
  • the moneyness of OTM options is less than 1.<\/li>\n<\/ul>\n\n\n\n

    FAQ - Frequently asked questions about Moneyness<\/h2>","protected":false},"author":7,"featured_media":0,"template":"","class_list":["post-45194","glossar","type-glossar","status-publish","hentry"],"acf":{"blog_summary":"","blog_faq_schalter":"ja","faq_uberschrift":"","blog_faq_loop":[{"blog_faq_question":"Was bedeutet Moneyness?","blog_faq_answer":"Als Moneyness bezeichnet man das Verh\u00e4ltnis eines Basispreises einer Option zum aktuellen Kurs des Underlyings. Optionen k\u00f6nnen In The Money (im Geld), At The Money (am Geld) oder Out Of The Money (aus dem Geld) liegen."},{"blog_faq_question":"Was ist der Basispreis einer Option?","blog_faq_answer":"Der Basispreis einer\u00a0Option, ist der Preis\/Kurs des Underlyings, zu dem das Underlying im Falle einer Optionsaus\u00fcbung gekauft oder verkauft wird. Der Basispreis wird auch als Aus\u00fcbungspreis oder Strike bezeichnet."},{"blog_faq_question":"Was ist eine Optionspr\u00e4mie?","blog_faq_answer":"Als Optionspr\u00e4mie bezeichnet man den Preis einer\u00a0Option. Diese wird vom Optionsk\u00e4ufer an den Optionsverk\u00e4ufer gezahlt. Der Begriff \u201cPr\u00e4mie\u201d bringt zum Ausdruck, dass Optionen eine Art Versicherungscharakter aufweisen."},{"blog_faq_question":"Was ist der innere Wert einer Option?","blog_faq_answer":"Der innere Wert einer Option enstpricht der Differenz zwischen dem\u00a0Basispreis\u00a0der Option und dem aktuellen Kurs des Underlyings und dr\u00fcckt aus, wie viel die Option bei einer sofortigen Aus\u00fcbung wert w\u00e4re."},{"blog_faq_question":"Was ist der Zeitwert einer Option?","blog_faq_answer":"Der Zeitwert einer Option entspricht der Differenz zwischen dem Optionspreis und dem\u00a0Basispreis\u00a0inneren Wert einer Option. Bis zum Verfallstermin der Option f\u00e4llt der Zeitwert auf null."}]},"_links":{"self":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/glossar\/45194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/glossar"}],"about":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/types\/glossar"}],"author":[{"embeddable":true,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/users\/7"}],"wp:attachment":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/media?parent=45194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}