7.4 American vs European Options An American option is worth at least as much as the corresponding European option P≥ Options, Futures, and Other Derivatives, 4th edition@ 2000 by John C. Hull Tang Yincai, Shanghai Normal UniversityOptions, Futures, and Other Derivatives, 4th edition © 2000 by John C. Hull Tang Yincai, Shanghai Normal University 7.4 American vs European Options An American option is worth at least as much as the corresponding European option C  c P  p