Cheddar News' Courtney Sturgeon reports live from the options trading floor on the 50th annivesrary of Cboe to break down the global impact of the U.S. options industry, and an outlook on the options market.

Cboe Celebrates 50th Anniversary

This next segment is brought to you by CBO defining markets through innovation, technology and trading solutions. We're going live now to Chicago for our newest Cheddar business segment from the Chicago Board Options Exchange. We have Courtney Sturgeon joining us on a very busy morning at CBO. Courtney. What do you have for us? That's right. Very busy morning here. What you're hearing behind me is not just the opening bell. It's also a milestone anniversary here at CBO. Today marks the 50th anniversary since opening in Chicago, not far from where we are right now. And since then, cbo's options and volatility, trading data and analytics and market models have expanded and driven trading for market participants and not just in options. This week, we're seeing how this plays out during earning season as well. Many traders looking to the options industry and the implied volatility to gain insight into what may happen after reports are released. One of those measures the vix and earlier earlier in the week that is now standing at 18, up from 16 where it closed on Monday and in its debut week, the one day that is up to 18, we did see some swings there, but that's to be expected given that it has just debuted. Now, as far as here at CBO right now, we're here with traders who are actively celebrating the 50 year anniversary. One of the anniversaries that's also celebrating is the 60th year that the VIC has been in play here at CBO. And Courtney CBO is the birthplace of the US options industry. So what global impact have we seen since it opened in 1973? Well, that's right, Chloe, we've seen a major global impact just the last week, as I mentioned, the one day opened and debuted this week and we've also seen here this week CBO signing a contract that is excuse me and launching a contract track between cbo's global indices and the Korea Exchange. That partnership will develop more strategic index products based on Korean derivatives. So what's next for the options market? Courtney, the options industry now includes 16 exchanges and its total annual volume is projected to reach 11.6 billion contracts this year marking a new record high as for the celebration here on the floor. CBO is marking this milestone by donating a total of five $100,000 to 5 different nonprofit organizations. We have Courtney Sturgeon live from CBO. Thank you so much for that context. We can't wait to hear more from you in the coming weeks. That's from Chicago. Learn more about options trading, visit CBO dot com.