IN-THE-MONEY
Describes an option whose strike price is advantageous compared with the current forward market price of the underlying. The more an option is in-the-money, the higher its intrinsic value and the more expensive it becomes. As an option becomes more in-the-money, its delta increases and it behaves more like the underlying in profit and loss terms; hence deep in-the-money options will have a delta of close to one.