Strike price K

At spot $100, the 80 call is ITM, the 100 call ATM and the 120 call OTM. Puts reverse this: the 120 put is ITM and the 80 put OTM.

For the same underlying, expiration and other conditions, a lower-strike call is usually dearer; a higher-strike put is usually dearer.

Call intrinsic value = max(S − K, 0); put intrinsic value = max(K − S, 0). Being ITM does not mean a net profit: premiums paid and fees still need to be deducted.