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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 ?
Lifestyle notes Diane used to be a competitive swimmer and still exercises intensely with three sessions of high-impact aerobics and two to four hours of tennis a week.
Retired serviceman Whitey Tatarcuk, 58, took high-impact aerobics for years and welcomed the progression to step.
Based on African dances and techniques of classical ballet and jazz dancing, funk combines the intensity of high-impact aerobics with natural movements and rhythms.
Weintraub, M.D., professor of neurology at New York Medical College, suggests high-impact aerobics may cause permanent hearing impairment.
In the midst of the transition away from high-impact aerobics, the music industry began to promote rap music.
The movement toward low-impact fitness is attributable to three factors, according to ASD: the tremendous influx of women into physical fitness, a burgeoning senior population, and to a lesser degree, the aging of the baby-boomers -- some of whom have no doubt defected from running or high-impact aerobics to these less taxing pursuits.