Can the option be assigned before the expiration date?

Yes, the option can be assigned before the expiration date, especially if it is in-the-money (ITM). Early assignment can occur at any time before expiration, and it is more likely to happen when the option is ITM and there is little time premium left. In the case of Cerence Inc. (CRNC), the option you are referring to is a sold 10 PUT contract at a strike price of $4, ending on November 15, 2024. If the underlying stock price drops below the strike price by the expiration date, the option will be assigned, and you will be obligated to buy back the shares at the strike price. However, if you choose to close the option before expiration, you can avoid assignment and potential further losses.