Learn about the financial implications when an option reaches its strike price, and the concepts of moneyness, intrinsic value, and why "at the money" matters for investors.

A bear spread is an options strategy for mildly bearish investors. It aims to capitalize on moderate declines in an underlying asset's price through put or call spreads.

While the smart money is hedging against downside tail risk due to Microsoft's underperformance, MSFT stock could make for a contrarian bet.