intrinsic value of an option(The intrinsic value of the option is its value at expiration date or when it is exercised earlier: the payoff to the holder of the option equals max(S-X,0). The option's market price prior to expiration or early exercise is higher than the intrinsic value as one has to add the time value on top of it. springer.com)
in-the-money option(или опцион "колл", когда цена базового актива больше цены, указанной в опционе, или опцион "пут", когда цена базового актива меньше цены, указанной в опционе. Slawjanka)
