At-the-money

As they once said of New Zealand cricketer Bob Cunis, neither one thing nor the other. Neither in the money or out of it. 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 — at which point one is a creditor — and out-of-the-money — at which point one is a debtor.

See also

• Flawed asset
• The moneyness hokey-cokey: in-the-money, out-of-the-money and at-the-money
• Options