The exercise price of an option is:

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The exercise price of an option is also known as the strike price, which is the price at which the option holder has the right to buy or sell an asset. This price is specified in the option contract and remains fixed throughout the life of the option. The market price of an option can fluctuate based on various factors such as the underlying asset's price, time to expiration, and market volatility, but the exercise price remains constant. Therefore, option holders can exercise their option to buy or sell the underlying asset at the exercise price, regardless of the market price of the option at any given time.

The Exercise Price of an Option Is