From Longman Business Dictionaryout-of-the-money optionout-of-the-ˈmoney ˌoptionFINANCE an option that EXPIREs (=comes to the end of its life), or looks as though it will expire, with no value because it only allows you to buy shares etc above their present price, or to sell them for less than their present priceOut-of-the-money options are worthless unless there is a sudden dramatic change in the value of the underlying investment. → option
