### Question
How is the term strike price defined?


### Answer
The term **strike price** is defined in *26 U.S.C. § 1092* as the following:

> the price at which the option is exercisable

#### 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**

