1) (FINANCE) on a financial derivative, the price at which the final transaction occurs. For example, the strike price of a
call option is the price at which the owner of the option may buy the underlying item. If a call option is for 100
bbls of WTI crude oil at a strike price of $85.75/bbl, and the
spot price is $86.50, then the option is worth (86.50 - 85.