The CBOE’s first President, Joe Sullivan, was “everything” to the creation of the CBOE. In this article, written by Joe himself, the inner workings of politics – both in Washington and in Chicago – exchanges, and traders, all combined to make for a very interesting four years of legwork needed to start the CBOE. Joe did a tremendous amount of soothing, cajoling, and arm-twisting (I’m sure) to get the CBOE off the ground. He served as the inaugural president of the CBOE from its founding in 1973 until 1979.
Editor’s note: trader and mathematician Michael Greenbaum is famous in the world of option trading as the firm he founded – O’Connor Associates – became synonymous with the highest level of derivative trading based on theoreticals and modeling. It eventually was a major player in nearly every form of derivatives arbitrage practiced on Wall Street.
I met Mike Gallagher shortly after I joined Thomson McKinnon Auchincloss Kohlmeyer (TMAK) in 1976. Mike ran the Thomson operation on the floor of the CBOE at the time. Later, as I progressed to trading the TMAK arbitrage and option proprietary accounts, Mike and his partners were our main floor brokers on the CBOE. I talked to Mike recently, and asked him about some of the early days at the CBOE
I met David Lucterhand when we were both freshmen living on the same floor in the H-1 Dorm at Purdue in the fall of 1964. A few years later, on my first visit to the CBOE – in November of 1974 – I was on the small trading floor in the old smoking room. To my surprise, there was David Lucterhand, making markets on the CBOE. I called David this week to get some of his remembrances of the early days:
The following is a remembrance of the early days of listed option trading, written by my good friend, who was an arb at Paine Webber.
In February of 1974, I finished my four-year hitch in the Air Force and was able to parlay my degree in math into a position in the Arbitrage Department at PaineWebber, which was looking to add options trading to their risk arb and convertible bond efforts.
Larry McMillan recently sat down with David Keller of Stockcharts.com for their Behind The Charts series where Larry discusses his origins in the markets and the current environment. Click here to watch the video or view below.
McMillan Analysis Corp. president Larry McMillan was recently intereviewd on Chuck Jaffe's Money Life podcast where he explored the current state of our option-oriented indicators and discussed the current market environment.
Listen below or click here:
Episode 4- Discussing Options as a Strategic Investment — With Author Larry McMillan
In today’s episode, Nell Sloane of Capital Trading Group speaks with Larry McMillan, author of the bestselling book “Options as a Strategic Investment,” popularly known as the options bible. Larry has appeared on CNBC, Bloomberg, and Wall Street Journal, and he continues to make valuable contributions to the finance industry.
In this episode, you’ll learn:
McMillan Analysis Corp. president Larry McMillan's recent interview with Anthony Crudele was highlighted in his Best of May podcast. Click here to listen.
