Strike price

The strike price is the price at which an option may be exercised. Large open interest at a strike gives someone a concrete financial reason to want the underlying to close on one side of it.

instruments and markets · updated 2026-09-23

Where does strike price come up?

This term is used in the following manipulation techniques, each explained in full on its own page.

• Options expiry pinning — Options expiry pinning is trading to hold a share price at or across an option strike at expiry, exploiting the fact that a few cents of movement decides whether large positions pay out or expire worthless.

Enforcement actions involving these techniques

See also

• Option — An option is a contract giving the right, but not the obligation, to buy or sell an asset at a set price before or at expiry. Opti…
• Pinning — Pinning is the tendency of a stock to close near a heavily traded option strike at expiry, produced by hedging flows. Ordinary pin…

Terms that refer here

Option

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