A call option, that is, a call option, has the right to buy something at an agreed price. The "agreed price" here is the exercise price, also called the exercise price. It can be seen that the lower the exercise price, the cheaper it can be bought and the more valuable the call right is. On the contrary, the higher the exercise price, the lower the value of the call option. Therefore, it is obvious that when the exercise price rises, the income of "buy cheaply" decreases, and the value of call options also decreases.

For put options, the opposite is true.