European-Style Options: Can only be exercised on their expiration date, unlike American-style options, which can be exercised any time before expiration.
Incorrect Options:
A: Not accurate; the exercise must occur specifically on the expiration date.
C: Options cannot be exercised after expiration.
D: The expiration date depends on the option contract, not a specific weekday.
References:
Options Clearing Corporation (OCC) Guidelines:OCC European Options.
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