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At-the-money: Difference between revisions
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{{def|At-the-money||adv|[[File:Bob Cunis 1967.jpg|450px|center|thumb|[[Bob Cunis]]: [[on the money]], as it were.]]}}Of a [[financial instrument]], in the [[cunisian]] state: neither one thing nor the other; neither [[in the money|in]] nor [[Out-of-the-money|out of the money]]. All square. | |||
An arm’s-length [[swap transaction]] will start out life [[at-the-money]] and, when the last payments have been made, will finish there too, but will usually spend the rest of its time swinging wildly [[in-the-money]] — at which point one is a [[creditor]] — and [[out-of-the-money]] — at which point one is a [[debtor]]. | |||
{{moneyness}} | {{moneyness}} | ||