Jerry has less than $2.00 in his pocket. let m = the amount of money in jerry's pocket.

m < $2.00

Explanation:

We are looking for an answer that includes all the values under 2.00, and at the same time excludes 2.00. For instance the option:

                                                    m < $2.00

correctly meets the previously proposed terms. While "m ≤ $2.00" indicates that Jerry holds all the values starting from $2.00 (including it), but the reality is he holds fewer than $2.00, excluding this value.