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Given the rarity of problematic incidents in Europe, the net effect of the network neutrality provisions of the Regulation is likely to be minimal in any case.
This brief paper is intended to explain the similarities and differences to a North American and global audience.
When you are short an American-style option (you sold the option without owning it) and are assigned an exercise notice before expiration, instead of being short the option, you are now short the stock.
That may place you at serious risk if the market undergoes a significant move, because that forced purchase makes your position different from the one you thought you owned.
With American-style options, there are seldom any surprises.
When the stock is trading at .12 a few minutes before the closing bell on expiration Friday, you can anticipate that the 40 puts will expire worthless and that the 40 calls will be in the money.
If you have a short position in the 40 call and don't want to be assigned an exercise notice, you can repurchase those calls.