In the case of options with automatic exercise the net value of the option is credited to the long and debited to the short position holders. Typically, exchange-traded option contracts expire according to a pre-determined calendar.
A continent is one of several very large landmasses on Earth. Generally identified by convention rather than any strict criteria, up to seven regions are commonly regarded as continents. Ordered from largest in size to smallest, they are: Asia, Africa, North America, South America, Antarctica, Europe, and Australia. In geology, areas of continental crust include regions covered with water.
According to the definition of a continent in the strict sense, an island cannot be part of any continent, but by convention and in practice most major islands are associated with a continent. There are three overland boundaries subject to definition: