Question: Please solve these questions with some solving process, Thank you. ? 5. What is meant by the terminology that an option is: lntheMoney .l-'ltthol'illone).r OutoftheMoney

Please solve these questions with some solving process, Thank you.
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5. What is meant by the terminology that an option is: lntheMoney .l-'ltthol'illone).r OutoftheMoney Please explain for Put and ICall options
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