Thanks a lot. That clears my confusion

<t>Thanks for the quick replies. Maybe I am not clear enough, sorry for that. The book only compared two cases: exercise the option at time t or hold it to some future date. But in real world, there is a third option, you can also sell the option in the market and receive the bid price, which has to...

<t>I am a student new to this field, so this is probably a stupid question. When reading John Hull's book, I became confused about early exercise of American style options (especially for put options). In theory, the idea of early exercise is clear. You should exercise the option at a (S, t) when th...