Template:Nutshell Equity Derivatives 2.2

2.2. Option Style.

2.2(a) “American Option” means an Option Transaction which is not a Bermuda Option and which may be exercised on any Scheduled Trading Day during a multi-day Exercise Period.

2.2(b) “Bermuda Option” means an Option Transaction which may be exercised only on the Potential Exercise Dates during the Exercise Period and on the Expiration Date.

2.2(c) “European Option” means an Option Transaction which may be exercised only on the Expiration Date.