The act of an option holder in electing not to exercise or offset an option.

指期权的持有者选择放弃执行或对冲期权合约的行为。

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Call option refers to the right given to the option holder to buy (not the liability to buy) an asset at a specified price within specific time period.

买方期权，是指赋予期权持有人在期权有效期内按履约价格买进(但不负有必须买进的义务)规定的资产的权利。

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Putt option refers to the right given to the option holder to sell (not the liability to sell) an asset at a specified price within specific time period.

卖方期权，是指期权持有人在期权有效期内按履约价格卖出（但不负有必须卖出的责任）规定的资产的权利。 。

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In many cases, section 409A may subject the option holder to extra taxes.

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With a Chicago put you might get stuck with the stock in question if it dips and the option holder decides to exercise.

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It can happen if, say, the stock price and the exercise price are so close that the option holder sees no value in paying the commissions to exercise.

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