Used in the context of general equities. In-line, or at the same price, as the last sale.
On the Money
In equities, a term describing an ask price equal to the price of the previous sale of a security. For example, if one buys a security at $35 per share, and re-sells it at the same price, such a sale is considered to be "on the money." Obviously, no profit or loss results from on the money sales.