The price, specified in the option contract, at which the underlying futures contract or commodity will move from seller to buyer.

The price at which the underlying security can be bought or sold. - Refers to the settlement period that is allowed once a security has been traded. T+ 5 would mean that settlement will occur five business days after the transaction day.

The price at which an option can be exercised. See: Exercise price.

In options, the price at which a futures position will be established if the buyer exercises (also called strike or exercise price).

The amount at which a call or put option can be exercised, normally a price set close to the market price of the stock at the time the option is issued.

(1) The price at which Ginnie Mae securities can be sold on a standby commitment. (2) The price at which the holder of a call (put) option may choose to exercise his right to purchase (sell) the underlying futures contract.