option

问题如下：

When should American calls be exercised early?

选项：

A.

Dividends are big enough after options exercised.

B.

There are significant storage costs.

C.

The underlying pays no dividend.

解释：

A is correct.

When a stock goes ex-dividend, its price will decrease. So the long position of the option prefers to exercise the call before the stock goes ex-dividend. B is incorrect because investors prefer owning the option rather than owning the underlying if storage costs are significant.

中文解析：

当股票除息时，它的价格会下降。所以多头倾向于在股票除息前行使期权。A对，C错。

B是不正确的，因为如果存储成本很高，投资者更愿意拥有期权而不是基础资产。