### Comment:
Does it matter if it's American or European style? Exercise at any time should follow the same logic. 
  
 Thanks for pointing out the flex. I hadn't thought of that lol.

### REPLY:
You're right, I should have made it clear that the difference is between cash-settled or physical settlement in the options. It just turns out that American options are usually physically settled and European options are usually cash-settled.

### END.