List two reasons why one would not normally want to exercise early an American call for which the underlying does not pay a dividend

There are a few reasons why one would not normally want to exercise an American call option for which the underlying does not pay a dividend:

1. Time Value Decay: American options have the advantage of early exercise, which allows the option holder to exercise the option before expiration. However, by exercising the option early, the holder forfeits the remaining time value of the option. If the underlying does not pay a dividend, it is generally more beneficial to wait until closer to expiration to exercise the option, allowing the option holder to capture more time value.

2. Opportunity Cost: By exercising the option early, the option holder locks in the current price of the underlying asset. However, if the underlying asset does not pay a dividend and there is no significant reason to exercise early (such as expiration approaching or the underlying price significantly changing), it may be more advantageous for the option holder to hold onto the option and potentially benefit from any future price appreciation. By exercising early, the option holder may miss out on potential gains if the underlying asset's price continues to rise