fbpx CBOE Origin Remembrances: Lawrence G. McMillan | Option Strategist

CBOE Origin Remembrances: Lawrence G. McMillan

By Lawrence G. McMillan

I had been trading over-the-counter options for some time, ever since having read the book “Beat The Market,” by Edward Thorp (yes, the same guy who originally figured out how to properly count cards in blackjack and had also written “Beat The Dealer.”) Sometime in mid-1973, my broker Ron Dilks, called me and said that he had read an article in Business Week about listed stock options. It was about the Chicago Board Option Exchange (CBOE), which had begun trading listed options a few months earlier, in April of 1973.

Later, it became an assumption that I was trading options on day one of listed options at the CBOE. I was, but not CBOE listed options. That began later in 1973. The standardization of options by the CBOE gave one the ability to easily construct option spreads and other more theoretical strategies...

Continue reading the full article by clicking here.

CBOE 50th Year Anniversary

Option Strategist
Blog Search

Recent Blog Posts

Trading or investing whether on margin or otherwise carries a high level of risk, and may not be suitable for all persons. Leverage can work against you as well as for you. Before deciding to trade or invest you should carefully consider your investment objectives, level of experience, and ability to tolerate risk. The possibility exists that you could sustain a loss of some or all of your initial investment or even more than your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and investing, and seek advice from an independent financial advisor if you have any doubts. Past performance is not necessarily indicative of future results.
Visit the Disclosure & Policies page for full website disclosures.