Nikkei 225 options and TOPIX options on the Osaka Exchange are European options. They cannot be exercised before expiry, and exercise is possible only on the day after the last trading day of each contract month. To close the position before expiry, the buyer sells the option or the seller buys it back instead of exercising.
European option
- Japanese
- ヨーロピアン・オプション
- Also known as
- European-style option
- Last reviewed
- September 25, 2026
This is a draft, shown for review before publication.
A European option is an option that the buyer can exercise only on the expiry date.
Related terms
Explained in detail
Pages that use this term
- Option Basics: Calls and Puts
- Put-Call Parity
- Overview of Exotic Options
- Barrier Options
- Digital Options
- Asian Options
- Basket Options
- Swaptions
- Overview of Exotic Rate Products
- FX Options
- Equity Index Options
- Single Stock Options
- Dividend Swaps and Futures
- Inflation-Indexed JGBs and BEI
- Volatility Products such as VIX Futures
- No-Arbitrage and Replication
- Binomial Trees
- Risk-Neutral Valuation
- The Black-Scholes Model
- The Greeks
- Implied Volatility
- Volatility Smiles and Surfaces
- The Hull-White Model
- The SABR Model
- The Heston Model
- Monte Carlo Simulation
- Finite Difference Methods