Basics

At-The-Money (ATM)

By Ryan Silk & Lawrence Polatchek · Reviewed April 2026 · Options Trading Glossary

Strike price equals current stock price

What is At-The-Money (ATM)?

At-The-Money (ATM) An option whose strike price is equal to (or very close to) the current price of the underlying asset. ATM options have the highest time value and typically a delta around 0.50.

Complete Definition

An option whose strike price is equal to (or very close to) the current price of the underlying asset. ATM options have the highest time value and typically a delta around 0.50.

Example

AAPL trades at $150. The $150 strike call is at-the-money.

Related Terms

In The Money Out Of The Money Delta Strike Price

Written by

ApexVol Research Team

Quantitative options research

All calculations use live ORATS institutional data — the same source used by professional volatility desks.

Technical reviewer

Ryan Silk, ApexVol Founder

Reviewed for technical accuracy

10+ years trading options. Built ApexVol's pricing engine, Greeks model, and IV-rank methodology.

This guide is updated as market conditions and ORATS data change. Last revised 2026-05-12. How we research →

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