### Question
What does deep-in-the-money option mean?


### Answer
**Deep-in-the-money option** has the following meaning in *26 U.S.C. § 1092*:

> an option having a strike price lower than the lowest qualified bench mark

#### Citation:
  - *26 U.S.C. § 1092*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter O-Gain or Loss on Disposition of Property > PART VII-WASH SALES; STRADDLES**

