Black-Scholes assumes that all options are European,meaning that the option can be exercised only on the date of the option's maturity.

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The Black-Scholes model assumes that the option is European, meaning that it can only be exercised on the date of maturity. This is because the formula is based on the assumption that the stock price follows a random walk and that there are no dividends paid during the life of the option. If the option were American, it could be exercised at any time during its life, and the formula would need to take into account the possibility of early exercise and the impact of dividends on the stock price.

Black-Scholes Assumes That All Options Are European,meaning That the Option