The strike price refers to the predetermined price at which an option contract can be exercised or bought/sold. It's the price set in the contract that determines the cost of buying or selling an asset in the future. Full definition
If the price exceeds the long call's strike price of $ 50, your maximum loss is still $ 400. (creditdonkey.com)
We like to buy them at a discount to what we believe their fair value is, and then sell call options with strike prices equal to what we feel their fair value is. (borntosell.com)
You do that by choosing appropriate strike prices for the options spreads you choose. (blog.mdwoptions.com)