Everything You Wanted to Know About Equity Options but Were Too Frightened to Ask.
IBKR Podcasts
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The Role of the Occ C in Options Trading
When you are long in option, you maintain the right to exercise that option at any point during its life cycle. American options and european options are different. European style options can only be exercised on their expery date. Each one of these brokerage houses actually manages their operational risk by having a cut off time that is standardized across their clients as to when they can exercise their options.
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