Is Pluang's Options American-Style or European-Style?

Pluang's US Stock Options are American-style, which means you can exercise your option contract at any time up to and including the expiry date — not only on the expiry date itself, as European-style options require. This matters most if you sell (write) options rather than buy them: because Pluang's contracts are American-style, early assignment risk is real, and a short position can be assigned by the buyer before expiry, not only when the contract expires. Buyers face no equivalent downside — the right to exercise early is optional, and most retail buyers close a profitable position by selling the contract on the market rather than exercising it. On expiry day itself, Pluang does not let contracts run to a passive automatic settlement: any options position still open is force-closed roughly one hour before market close, so you should plan to manage or close your position ahead of that window rather than assume it will simply cash-settle on its own.

• The defining difference: American-style options give either party the ability to trigger exercise/assignment at any point during the contract's life. European-style options restrict that event to expiry only. Pluang's US Stock Options and US ETF Options are both American-style — this applies to every contract on the platform, not just certain strikes or expiries.
• Why this mainly affects sellers, not buyers: If you buy a call or put, early exercise is your choice, and choosing not to exercise costs you nothing beyond the premium already paid. If you sell (write) a call or put — including as part of a covered call or other short strategy — the buyer on the other side of your contract can exercise at any time, and you can be assigned with no advance warning. Deep in-the-money contracts and positions near an ex-dividend date carry a higher chance of early assignment.
• What early assignment means in practice: If you are assigned, your position is closed at the contract's strike price rather than the current market price, and any obligation to deliver or receive the underlying shares (or the cash-settled equivalent) is triggered immediately — you do not get to choose the timing.
• How Pluang is regulated: US Stock Options and US ETF Options on Pluang are offered through PT PG Berjangka, licensed by OJK as a Perantara Pedagang Derivatif Keuangan, with transactions guaranteed via the Jakarta Futures Exchange (JFX) and Kliring Berjangka Indonesia (KBI). Assets are held with custodian Atomic Vaults LLC, an SEC/FINRA-regulated entity, with SIPC protection.
• Closing a position instead of waiting for exercise: Whether you're long or short, you can close an options position on Pluang at any time before expiry by trading out of it on the market — this is the most common way both buyers and sellers manage risk without relying on exercise or assignment at all.

Related questions:

Q: Can I exercise my Pluang option before its expiry date?
Yes — because Pluang's options are American-style, you can exercise a long call or put at any time up to and including expiry, not only on the expiry date. In practice, most buyers choose to sell the contract on the market instead of exercising, since selling captures both intrinsic value and any remaining time value, while exercising only captures intrinsic value.

Q: What happens if my short option position gets assigned early?
Your position is closed immediately at the strike price, and the corresponding obligation — delivering or receiving the underlying shares, or the cash-settled equivalent — is triggered right away, without advance notice. Deep in-the-money short contracts, especially near an ex-dividend date, carry the highest chance of early assignment. You can reduce this risk by closing or rolling a short position before it moves deep in-the-money.

Q: What happens to my option position if I don't close it before expiry day?
Pluang force-closes any options position that is still open roughly one hour before market close on expiry day — it is not left to settle passively on its own. If you want to manage the outcome yourself (take profit, cut a loss, or roll to a later expiry), do so before that window rather than assuming the position will simply resolve automatically.

Q: Is early assignment risk something buyers need to worry about too?
No — early assignment risk applies to option sellers (short positions), not buyers. As a buyer, the decision to exercise early is entirely yours, and choosing not to exercise never exposes you to an unplanned obligation. If you're only ever buying calls or puts on Pluang rather than writing them, early assignment is not a risk you personally carry. Sellers are the side that needs to monitor the position, since assignment can arrive without warning.