The intrinsic value is a fancy way for saying the amount of cash you can see its worth — in other words, the difference between the strike price and the current market price of the asset (with a lower bound of 0). For calls, if the asset price is greater than the strike price, then the intrinsic value equals asset price minus strike price, simple as that. If you own a 1 ETH Call with a strike of 1,500 and the current price is 1,700, then your intrinsic value is 200 (multiplied by the size of the asset, so 1 for this example). And if you own a 5 ETH put with a strike price of 1,800 and ETH is valued at 1,700, your intrinsic value is 100 x 5 (size) = 500. Be sure to consider your contract size in the pricing!