Examine the following statements and choose the correct answer:
Assertion (A): The American style option, compared to the European style, provides more freedom to option holders in exercising the option.
Reason (R): The American style option can be exercised only at a specified date which is generally the expiration date.

A. Both (A) and (R) are correct

B. Both (A) and (R) are incorrect

C. (A) is correct, but (R) is incorrect

D. (A) is incorrect, but (R) is correct

Answer: Option C