underwater
/ʌndɚˈwɔtəɹ/ adjective A2- Beneath the surface of the water; of or pertaining to the region beneath the water surface. · Watch out for underwater obstacles.· He was a pioneer in underwater exploration.
- Beneath the water line of a vessel. · When the ship was brought into dry dock, it was found that she had underwater damage.
- In difficulty, especially financially.
- Having negative equity; owing more on an asset than its market value. · We've been underwater on our mortgage ever since the housing crash.
- Of an option, having a strike price higher (call options) or lower (put options) than the current market price of the underlying asset or financial product; for example, an option to buy shares at $20 when the current market price is $15.
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