# American / European Option Style

**URL:** <https://forum.fixtrading.org/t/american-european-option-style/4915>\
**Category:** General Q&A\
**Tags:** general-qa, imported, xid\_167869\
**Created:** [September 14, 2009, 1:05pm UTC](https://forum.fixtrading.org/t/american-european-option-style/4915 "2009-09-14T13:05:09Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![prateekjain\_x](https://avatars.discourse-cdn.com/v4/letter/p/bbe5ce/32.png) [@prateekjain\_x](https://forum.fixtrading.org/u/prateekjain_x)\
**Post date:** [September 14, 2009, 1:05pm UTC](https://forum.fixtrading.org/t/american-european-option-style/4915/1 "2009-09-14T13:05:09Z")

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Imported from previous forum

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<div class="post-metadata">

**Author:** ![prateekjain\_x](https://avatars.discourse-cdn.com/v4/letter/p/bbe5ce/32.png) [@prateekjain\_x](https://forum.fixtrading.org/u/prateekjain_x)\
**Post date:** [September 14, 2009, 1:05pm UTC](https://forum.fixtrading.org/t/american-european-option-style/4915/2 "2009-09-14T13:05:09Z")

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Hi,

What is the standard method of describing the Option Style of a particular Option in FIX.4.2? Specifically, I am looking to represent American and European Option Styles. I have seen the definition of Tag 206 (Option Attribute), but want to confirm if this really is the only solution.

Kind Regards,

Prateek

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**Author:** ![hanno.klein](https://yyz2.discourse-cdn.com/flex010/user_avatar/forum.fixtrading.org/hanno.klein/32/38_2.png) [@hanno.klein](https://forum.fixtrading.org/u/hanno.klein)\
**Post date:** [September 14, 2009, 1:26pm UTC](https://forum.fixtrading.org/t/american-european-option-style/4915/3 "2009-09-14T13:26:14Z")

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FIX 5.0 SP1 offers tag 1194 ExerciseStyle for that.  
FIX 4.3 offers tag 461 CFICode which allows to convey the same information in the third character.

You asked about FIX 4.2 which does not have either field. The best alternative to using tag 206 is to allow a field from a higher version but it depends on your implementation. It would avoid changes when you move to a higher FIX version.

If you look at tag 206 in version FIX 4.4 or higher, you can see that the list of valid values has been removed. It is still present for FIX 4.2 so tag 206 is certainly a valid option there.

> Hi,
> 
> What is the standard method of describing the Option Style of a  
> particular Option in FIX.4.2? Specifically, I am looking to represent  
> American and European Option Styles. I have seen the definition of  
> Tag 206 (Option Attribute), but want to confirm if this really is the  
> only solution.
> 
> Kind Regards,
> 
> Prateek

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<div class="post-metadata">

**Author:** ![amiyaacharya16\_x](https://avatars.discourse-cdn.com/v4/letter/a/b782af/32.png) [@amiyaacharya16\_x](https://forum.fixtrading.org/u/amiyaacharya16_x)\
**Post date:** [September 26, 2009, 12:41pm UTC](https://forum.fixtrading.org/t/american-european-option-style/4915/4 "2009-09-26T12:41:57Z")

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Prateek,  
In FIX4.2 you can use Tag#206 - Option attribute and Tag#201 -PutorCall.

Amiya.

> FIX 5.0 SP1 offers tag 1194 ExerciseStyle for that. FIX 4.3 offers tag  
> 461 CFICode which allows to convey the same information in the third  
> character.
> 
> You asked about FIX 4.2 which does not have either field. The best  
> alternative to using tag 206 is to allow a field from a higher version  
> but it depends on your implementation. It would avoid changes when you  
> move to a higher FIX version.
> 
> If you look at tag 206 in version FIX 4.4 or higher, you can see that  
> the list of valid values has been removed. It is still present for FIX  
> 4.2 so tag 206 is certainly a valid option there.
> 
> > Hi,
> > 
> > What is the standard method of describing the Option Style of a  
> > particular Option in FIX.4.2? Specifically, I am looking to represent  
> > American and European Option Styles. I have seen the definition of Tag  
> > 206 (Option Attribute), but want to confirm if this really is the only  
> > solution.
> > 
> > Kind Regards,
> > 
> > Prateek