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To: Night Writer who wrote (35496)	10/29/1998 7:22:00 PM
From: FR1	Respond to of 97611

American options can be exercised anytime before closing on expiration day. European options can be exercised on expiration day. I think this is the basic difference. Yeah, that's the way I heard it. I didn't want to say it until somebody else did. A simple statement with enormous consequences. It means that if you buy options in Europe and your stock soars or drops like a rock you are forced to sit still and do nothing. They don't call Europeans socialists for nothing. They created the paper they call "options" so they could pretend to the illiterate part of the world that they are a modern market economy.