Underwater
Call Option in foreign exchange trading, in which the value of the Underlying security is lower than that of the option's strike price. Alternatively, it could be a put option in which the market value of the underlying security is higher than that of the option's strike price. Due to this condition, although the option has time value, there is no point in taking a call or put on the option today, although it could become profitable later if the underlying security's value changes.
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fair market value
personal
Delivery Instrument
offset account
Gresham's law