In-the-money, At-the-money and Out-of-the-money

In-The-Money

A call option is in-the-money if the stock price  is higher than the strike price.
A put option is in-the-money if the  stock price  is lower than the strike price.

At-The-Money

When the stock price is equal to the strike price, an option is at-the-money.

Out-of-The-Money

A call option is out-of-the-money if the stock price  is lower than the strike price.
A put option is out-of-the-money if the stock price  is higher than the strike price.