> It’s optimal to exercise options in some circumstances (deep in-the-money puts and sometimes calls before ex-dividend dates). I was referring specifically t

> It’s optimal to exercise options in some circumstances (deep in-the-money puts and sometimes calls before ex-dividend dates). I was referring specifically to call options; I guess that wasn't clear. You're right, there are occasionally circumstances under which a person might want to exercise a call option ahead-of-time, but as a general rule, it's sub-optimal.