An options contract is "out of the money" (OTM) when it lacks intrinsic value. When this is the case, there is no point in exercising the contract. Jeremy Salvucci Updated: May 25, 2023 5:29 PM EDT ...

Ideally one just-ITM and one deeper- ITM Call. The stock did decline, but only by a couple of dollars, both written Calls however would have made money, though the deep ITM wouldn’t have become OTM.

However, in the last 6 expiry months, from April 2024 to September 2024, there has been a nil instance of an option contract turning OTM into ITM, after-market hours based on VWAP, the data revealed.

In the Money (ITM) vs. Out of the Money (OTM) Options The opposite of in the money is out of the money. Options contracts that do not have intrinsic value are considered out of the money.