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To implement the right of the holder of an option to buy (in the case of a call) or sell (in the case of a put) the underlying security.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


In option contracts, to buy (in the case of a call) or sell (in the case of a put) the underlying asset. The option holder has no obligation to exercise the option, and only does so if he/she believes it benefits him/her. Depending upon the nature of the option, this may be done at any point during the life of the contract, or it may only be done on the contract's expiry date. The strike price of the sale is agreed-upon in the option contract, that is, before the option is exercised.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


To require the delivery (for example, a call option) or to force the purchase (for example, a put option) of the option's underlying asset. Many options expire without being exercised because the strike price stated in the option is unfavorable to the holder.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.


When you act on a buying or selling opportunity that you have been granted under the terms of a contract, you are said to exercise a right.

Contracts may include the right to exchange stock options for stock, buy stock at a specific price, or buy or sell the security or product underlying an option at a specific exercise price.

For example, if you buy a call option giving you the right to buy stock at $50 a share, and the market price jumps to $60 a share, you'd likely exercise your option to buy at the lower price.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
The cardiopulmonary exercise testing is used to evaluate exercise capacity and predict outcome in patients with heart failure and other cardiac conditions.
[From interpretation of cardiopulmonary exercise testing to medical decision].
Role of cardiopulmonary exercise testing as a risk-assessment method in patients undergoing intra-abdominal surgery: a systematic review.Br J Anaesth 2016; 116(2):177-91.
The sophisticated metabolic systems used to collect and analyze data during exercise testing represent the most sensitive and reliable means for laboratory-based research.
Significant relationship (P<0.001) between the 6-min walk distance (6MWD) and peak oxygen uptake in cardiopulmonary exercise testing (CPET).
Alternatively, the V[O.sub.2] (units: ml * [min.sup.-1], or L * [min.sup.-1]) during cardiopulmonary exercise testing may also be expressed as a function of VE (units: ml * [min.sup.-1], or L * [min.sup.-1]).
Significant effort have been put forward to clarify what should be considered as a meaningful difference in power, duration and distance achieved with therapy during several exercise testing procedures over the past 15 years.
Guidelines for exercise testing in the pediatric age group.
The level of ventilation at a given CO2 output determines ventilatory efficiency.29 Ventilatory efficiency is a useful index for assessing patients with heart and lung disease.30 Increase in ventilation(VE) to increase in CO2 output (VCO2) is also an established index reflecting the severity of ventilation perfusion mismatch in heart failure patients.13 Traditionally an incremental exercise testing to a symptom limited maximum has been used to obtain the VE/VCO2 slope.13,29,30 VE increases in tight relationship with the increase in VCO2 during an incremental exercise until the near maximum level i.e ventilatory compensation point.
Research studies provide supportive evidence for the use of clinical exercise testing and prescribed exercise programs to decrease risk factors for complications related to diabetes.
It's been updated throughout, includes details from the 2010 edition of ACSM's Guidelines for Exercise testing and Prescription, and uses the latest new techniques, from GPS to interactive video games, to change exercise behavior and promote fitness.