### Question
What does strike price mean?


### Answer
**Strike price** has the following meaning in *17 CFR § 1.3*:

> the total price at which a person may purchase or sell the contract of sale of a commodity for future delivery or the physical which is the subject of a commodity option *(i.e.,* price per unit times the number of units)

#### Citation:
  - *17 CFR § 1.3*
  - Heading: **PART 1—GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT**

