Today (April 26, 2013), we celebrate the birthday of options by looking back at the evolution and game-changing innovation of an industry.
Forty years ago, in 1973, the Chicago Board Options Exchange (CBOE) was founded. The first options traded on 16 stocks -- just 911 contracts, all calls -- on April 26, as market makers watched from the "trading floor," which was actually the 4,300-square-foot smoking lounge of the Chicago Board of Trading (CBOT).
Forty years ago, in 1973, the Chicago Board Options Exchange (CBOE) was founded. The first options traded on 16 stocks -- just 911 contracts, all calls -- on April 26, as market makers watched from the "trading floor," which was actually the 4,300-square-foot smoking lounge of the Chicago Board of Trading (CBOT).
