SIE: 4.1.1.6.1. American Vs. European Options

4.1.1.6.1.  American vs. European Options

Options on stocks are called equity options and may be exercised at any time by the buyer of the option, until the expiration date.

Non-equity options, such as index and commodity options, may or may not have this feature. An option that can be exercised at any time prior to closing is called a