The Chicago Board Options Exchange (CBOE) announced that two CBOE seats, or memberships, traded yesterday, April 23rd, setting new record high prices. The first sale, at a price of $2,299,000 beat the previous record of $2,270,000 that was established on March 12, 2007.A second seat was purchased at a price of $2,300,000 setting the new all-time record high.
Monday's transactions were the 28th and 29th seat sales of the year. The first sale of 2007 was at a price of $1.8 million on January 10th. During 2006, the highest price paid for a CBOE seat was $1,775,000 on December 6th. The lowest price paid was $850,000 on January 30, 2006, and the last sale of the year was on December 27th for $1,750,000.A total of 111 seats changed hands in 2006.
CBOE's Membership Department facilitates the purchase and sale of seats using an auction method in which bids and offers from interested parties are submitted to the Exchange. When a bid matches an offer, a sale is made.
