The technical definition for strike price is:
“A price at which the stock or commodity underlying a call or put option can be purchased (call) or sold (put) over the specified period.”
But what sense does that make?!?!
Think of the strike price as your POINT OF REFERENCE when conducting option trades.
For example, a MSFT Nov 30 Call has a strike/exercise price of $30 a share. When/If the option is exercised the owner of the option will “buy” (Call option) 100 shares of MSFT stock for $30 a share, which amounts to a $3,000 investment (100 shares x $30).