The Chicago Board Options Exchange (CBOE) announced that six CBOE seats, or memberships, traded this morning. Two of the sales, for a price of $2,300,000 each, equaled last week's record high price set on Monday, April 23rd. A third sale was recorded this morning for $2,395,000, while three sales for $2,400,000 respectively, established a new all-time high for CBOE.
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.
