单词 | EXERCISE |
释义 | The process of utilizing the rights granted an OPTION buyer under the terms of a contract; for a CALL OPTION this means purchasing the reference ASSET at the STRIKE PRICE, and for a PUT OPTION it means selling the asset at the strike price. Exercise may occur at maturity of the contract (EUROPEAN OPTION), at any time until maturity (AMERICAN OPTION), or on specified dates (BERMUDAN OPTION). |
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