Before revision:  We analyse and numerically solve to value the option for both agentsand illustrate that the additional information of the insider can result in exercise patterns which exploit the information on the change point  .
After revision:  We rigorously characterise the free boundary PDEs for both agents, establish shape and regularity properties of the associated optimal exercise boundaries, and prove the smooth pasting property in both information scenarios, exploiting some stochastic flow ideas to do so in the partial information case. We develop finite difference algorithms to numerically solve both agents' exercise and valuation problems and illustrate that the additional information of the insider can result in exercise patterns which exploit the information on the change point .