Why does the justification for exercising an american call

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Why does the justification for exercising an American call early not hold up when considering an American put?

The following option prices were observed for a stock on July 6 of a particular year. Use this information to solve problems 14 through 19. Unless otherwise indicated, ignore dividends on the stock. The stock is priced at 165.13. The expirations are July 17, August 21, and October 16. The risk-free rates are 0.0516, 0.0550, and 0.0588, respectively.

Text Book: Introduction to Derivatives and Risk Management By Don Chance, Roberts Brooks.

		CALLS			PUTS
Strike	Jul	Aug	Oct	Jul	Aug	Oct
155	10.50	11.80	14.00	0.20	1.25	2.75
160	6.00	8.10	11.10	0.75	2.75	4.50
165	2.70	5.20	8.10	2.35	4.70	6.70
170	0.80	3.20	6.00	5.80	7.50	9.00

Reference no: EM13926014

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