Japanese Option

At the time trading was initiated in TOPIX stock index options on the Tokyo Stock Exchange and in Nikkei-225 options on the Osaka Stock Exchange, these options were exerciseable each Thursday during the life of the option contract. In early 1992, the exercise was changed to European style on options expiring after June 1992. When used today, Japanese Option may be a reference to an option with fixed periodic exercise rights or a slightly confused reference to an Asian or Average Rate Option. See also Modified American Option, Semi-American Option, American Option, Bermuda Option, Deferred Payment American Option, Quasi-American Option, European Option, Limited Exercise Option.