The strike price of an option contract is that market price that when reached, the option can be exercised. If the current market price of the underlying asset does not reach the strike price, the option contract is termed "out of the money" and cannot be exercised.
So, imagine you bought a call option for $10 premium, and the strike is 1.1700; you can only call/buy the underlying asset to yourself when the current market price has reached 1.1700 if not the contract will expire worthless, and you will make a $10 loss.
Let us assume the strike price of a contract you bought for $10 is $100 and then the current market price also gets to $100; in this case the contract is "at the money". By the time the current market price gets to $111 the contract is "in the money". This is because if you exercise the contract at $111 and subtract the $10 premium, you will still make a $1 profit.
