An option which can be exercised at different times over its life. This feature makes such an option more flexible than an otherwise identical European option and less flexible than an otherwise identical American option. Both the writer and the holder of a mid-Atlantic option are flexibly enabled to set various times for exercise as each deems fit.

This option is sometimes referred to as a Bermudan option, an Icelandic option, a quasi-American option, a semi-American option or simply as an Atlantic option.