An option=s price at which the underlying futures contract can be bought (call option) or sold (put option). An example would be a Nov 8.00 Soybean Call, could be exercised to establish a long Nov Soybean position at the $8.00 price level. See also "Call Option," "Put Option" and "Underlying Futures Contract."
the price at which the option holder has the right to buy or sell the underlying currency or currency futures contract
The predetermined rate at the inception of the option contract which the Call owner buys the currency or the Put owner sells the currency.
The price at which the owner of an option can purchase (call) or sell (put) the ...
The price at which the option buyer may purchase or sell the underlying futures contract upon exercise. See "exercise price."