Analysis of information sources in references of the Wikipedia article "Chicago Board Options Exchange" in English language version.
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.
On January 19, 1993, the Chicago Board Options Exchange introduced the VIX. Developed by Robert Whaley, it was designed to measure the 30 days implied volatility of at-the-money (ATM) S&P 100 (OEX) option prices[.]
To evaluate the options market concept the Board of Trade established a committee chaired initially by the man who would become its chairman in 1969, a charismatic floor trader named Bill Mallers.
Officials at the Securities and Exchange Commission initially discouraged the plan. One likened options trading to gambling and advised, "Don't waste another nickel on it."
