out of the money[OTM]

out of the money[OTM]　价外　

A call option with a strike price that is higher than the market price of the underlying asset，or a put option with a strike price that is lower than the market price of the underlying asset.An out of the money option has no intrinsic value，but only possesses extrinsic or time value.As a result，the value of an out of the money option erodes quickly with time as it gets closer to expiry.If it’s still out of the money at expiry，the option will expire worthless.