It equals the number of shares in an option contract (typically 100 shares) multiplied by the exercise price in that contract. This price doesn’t take into account the option price, which is its premium. For instance, a call option on ABC stock that expires in November with an exercise price of $50 would have an aggregate exercise price of:
Number of shares in contract X share price = 100 X $50= $5000
It is said, then, that the aggregate exercise price for the above option would be $5000 if it is exercised before or on its expiration date (November).
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