Basic Training: Exercise, Assignment, and Settlement.

There are two styles of options you will encounter -- American and European style. What's the process when your exercises and assignments are determined? When do those contracts settle? How do I determine if my options are going to be exercised or assigned against me? What is pin risk? What is a dividend trade?

Mail Bag: Even options recruits get mail privileges. Send those letters in.

• Email question from Alan P - Michigan: You guys have talked about the difficulties of executing multi-leg spreads in the past. What should I, as a retail options trader, be aware of when executing my spreads to guarantee better execution?
• Tweet from Riley: Are there any plans to speed up exercise and settlement in the options market?
• Facebook question from Dan Thomas: Isn't it a good thing for my call that aren't in the money to be exercised against me? Doesn't that mean that I'm locking in a profit by buying or selling stock at a more favorable price then where it's currently trading?