underwater

UK /ʌndə(ɹ)ˈwɔːtə/ · US /ʌndɚˈwɔtəɹ/ adjective, adverb, noun, verb

Forms underwaters underwatering underwatered under water under-water

1. adjective (not comparable) Beneath the surface of the water; of or pertaining to the region beneath the water surface. “Watch out for underwater obstacles.”
2. adjective (nautical) Beneath the water line of a vessel. “When the ship was brought into dry dock, it was found that she had underwater damage.”
3. adjective (figuratively) In difficulty, especially financially.
4. adjective (finance) Having negative equity; owing more on an asset than its market value. “We've been underwater on our mortgage ever since the housing crash.”
5. adjective (finance) 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.
6. adverb So as to go beneath the surface of the water. “Can you swim underwater?”
7. noun Underlying water or body of water, for example in an aquifer or the deep ocean.
8. noun (fishing) A type of lure which lies beneath the water surface.
9. verb (agriculture, horticulture, transitive) To water or irrigate insufficiently. “Care must be taken not to underwater houseplants in the summer.”

Sources: Wiktionary · WordNet 3.0 — from the Wiktionary entry “underwater”, CC BY-SA 4.0. Details