Series 7: 5.1.6.1. American Vs. European Options

5.1.6.1. American vs. European Options

Equity options may be exercised by the buyer of the option at any time until the expiration date.

Non-equity options, which will be discussed later, may or may not have this feature. An option that can be exercised at any time prior to closing is called an American-style option. An option that can only be exercised