Question 1: What are the main differences between a typical employee stock option and an American call option traded on an exchange or in the over-the-counter market? Question 2: Explain why employee stock options on a non-dividend-paying stock are frequently exercised before the end of their lives whereas an exchange-traded call option on such a stock is never exercised early. Question 3: On May 31 a company's stock price is $70. One million shares are outstanding. An executive exercises 100,000 stock options with a strike price of $50. What is the impart of this on the stock price