On Wednesday May 22, CBOE and Barron’s co-hosted an options symposium featuring broadcast live from CBOE. The “40, 30, 20” panel discussed the 40th anniversary of CBOE and the U.S. options industry, the 30th anniversary of index options trading from their start in 1983 and the 20th anniversary of the creation of the CBOE Volatility Index (VIX) in 1993
The panel was moderated by Barron’s Editor and President, Edwin Finn, Panelists included:
- William Brodsky, Chairman and CEO, CBOE
- Buzz Gregory, Equity Derivatives Strategist, Goldman Sachs
- Lawrence McMillan, Founder, TheOptionStrategiest.com and President, McMillan Analysis
- Thomas Peterffy, Chairman and CEO, Interactive Brokers
- Myron Scholes, Professor of Finance, Emeritus, Stanford Graduate School of Business
- Steven Sears, Author and Barron’s columnist was delayed by bad weather and was unable to appear.
Highlghts included Myron Scholes discussing how the Black-Scholes option model came about, Buzz Gregory explaining post-’08 forced the market to learn how to hedge, Tom Peterffy saying VIX futures were the backbone of the equity market, and both Bill Brodsky and Larry McMillan talking about what to expect for the next 40 years – VIX products and customer education could both play a strong part.
Enjoy the ~hour long video recap of the first 40 years of option trading.
Part 1 can be viewed below, parts 2 and 3 can be navigated to within the video player.