Strike price

In options, the strike price, or exercise price, is a key variable in a derivatives contract between two parties. Where the contract requires delivery of the underlying instrument, the trade will be at the strike price, regardless of the spot price (market price) of the underlying instrument at that time.
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The stated price per share for which underlying stock may be purchased (in the case of a call) or sold (in the case of a put) by the option holder upon exercise of the option contract.

The specified price at which an option contract may be exercised. If the buyer of the option exercises (demands performance), the futures contract positions will be entered at the strike price.

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