A broad stream of research shows that information flows into underlying stock prices through the options market. For instance, prior research shows that both th

I investigate the relation between option prices and daily stock return serial correlation. I demonstrate that the variance ratio, calculated as the ratio of re

We present strong evidence that option trading volume contains information about future stock prices. Taking advantage of a unique data set, we construct put-ca

Includes the first published detailed description of option exchange operations, the first published treatment using only elementary mathematics and the first s

We find strong evidence of information transmission from the options market to underlying stock prices. Taking advantage of a unique dataset from the Chicago Bo