1️⃣ What ITM vs OTM really means (quick)
CALL options
-
ITM Call → strike below current price
👉 SPY 688 → 687 / 686 Call -
OTM Call → strike above current price
👉 SPY 688 → 689 / 690 Call
PUT options
-
ITM Put → strike above current price
👉 SPY 688 → 689 / 690 Put -
OTM Put → strike below current price
👉 SPY 688 → 687 / 686 Put
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