How do I classify moneyness inside an option strategy?

Classify each option leg separately. Do not label the whole strategy as in the money or out of the money.

For a call, compare the stock price with the strike: the call is in the money when S > K, at the money when S is close to K, and out of the money when S < K.

For a put, reverse the direction: the put is in the money when S < K, at the money when S is close to K, and out of the money when S > K.

After every leg is classified, use the strategy name to interpret the payoff shape.