From Longman Business Dictionaryexercise priceˈexercise ˌprice [countable]FINANCE in OPTIONs (=the right to buy particular shares etc at a fixed price during a particular period of time), the price at which you can buy the related shares if you buy a CALL OPTION and the price at which you can sell if you buy a PUT OPTION;STRIKE PRICECall options become almost useless if the stock is below the exercise price. → price
