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The Chicago Board Options Exchange and Market Efficiency

Published online by Cambridge University Press:  06 April 2009

Joseph E. Finnerty
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Extract

Since call option trading started on the Chicago Board Options Exchange (CBOE) in April 1973, the interest shown by both the investment and academic communities has grown as rapidly as the volume of option trading. In May 1973, the first full month of trading on the CBOE, a total of 34,599 contracts were traded; during 1976, the monthly volume reached 1.5 million contracts on the CBOE and 800,000 contracts on the American Stock Exchange. At present the New York Stock Exchange and certain regional exchanges are evaluating the feasibility of adapting option trading for their respective exchanges.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 13 , Issue 1 , March 1978 , pp. 29 - 38
Copyright
Copyright © School of Business Administration, University of Washington 1978

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References

REFERENCES

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