Thanks for the interesting link to Espen Haug! For non-financial engineers, there is a subtle difference between the two option flavors. Holders of an American

Thanks for the interesting link to Espen Haug! For non-financial engineers, there is a subtle difference between the two option flavors. Holders of an American option can exercise their right to buy/sell the underlying asset at any time while European option holders can only exercise at expiration date.