When are European options can be exercised?

European options can only be exercised at their expiration date, unlike American options, which can be exercised at any time before expiration. This characteristic means that the holder of a European option must wait until the specified expiration date to exercise their right to buy or sell the underlying asset at the agreed-upon strike price. As a result, the pricing and valuation of European options often involve different strategies compared to their American counterparts.