At-the-money: Difference between revisions

At-the-money (view source)

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-As they once said of New Zealand cricketer Bob Cunis, neither one thing nor the other. Neither in [[in the money|the money]] or [[Out-of-the-money|out of it]]. All square.
+{{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 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]] and [[out-of-the-money]].
+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}}