ENGLISH
REFERENCE

underwater

adj. · adv. · n.
US //ˈəndɝˌwɔtɝ// UK //ˌʌndəwˈɔːtɐ// un·der·wa·ter
  1. 1 beneath the surface (adj.)
    A2 Elementary

    located or happening below the surface of the water.

    situated, occurring, or used beneath the surface of a body of water.

    Example

    The divers found an underwater cave filled with colourful fish.

    Example

    The research team deployed an underwater drone to map the coral reef without disturbing the delicate ecosystem.
  2. 2 owing more than value (adj.)
    C1 Advanced Technical Finance

    describing a loan where you owe more money than the item is currently worth.

    having negative equity, specifically when the balance of a loan exceeds the current market value of the asset securing it.

    Example

    After the housing market crashed, many families found their homes were underwater.

    Example

    The bank struggled to manage a portfolio of underwater mortgages as property values in the region continued to decline.

    Usage

    Commonly used to describe mortgages or car loans during a market crash.
    • negative equity
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  1. 3 financial options (adj.)
    C2 Proficiency Technical Formal Finance

    describing a financial deal that is currently not profitable to use.

    referring to an option whose strike price is higher than the current market price for calls, or lower for puts.

    Example

    His stock options went underwater after the company's poor earnings report.

    Example

    The executive's compensation package lost much of its appeal when the majority of his stock options became underwater during the recession.
    • out of the money
    • in the money
  2. 4 moving below the surface (adv.)
    A2 Elementary

    moving or staying below the surface of the water.

    in a manner that goes or remains beneath the water's surface.

    Example

    She can swim underwater for nearly two minutes without taking a breath.

    Example

    The submarine travelled underwater for several days to avoid detection by surface vessels.
  3. 5 deep water (n.)
    C1 Advanced Technical Science

    the water that is deep below the surface.

    the body of water located beneath the surface layer, such as in an aquifer or deep ocean.

    Example

    Scientists are studying the underwater in the Arctic to see how it changes.

    Example

    The contamination of the underwater in the local aquifer posed a significant threat to the town's long-term supply of drinking water.
Etymology 1

From under (preposition) + water.

Etymology 2

From under- + water.

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