Apparently, CBOE was founded in 1973 and opened on 1st January that year (source = Google), to start trading listed options.
The famous Black-Scholes paper was published also in 1973.
I am wondering if there is any direct link there?
When I first saw this, my initial thoughts were that the paper was published first and the CBOE opening and option trading followed as a reaction (my rationale for thinking this is that once the paper had been published, there finally was an "official" way to price options, and so it probably would have seemed a good business to come up with an options exchange).
However, seeing that CBOE was apparently opened on 1st January 1973 invalidates my thinking above: seems like CBOE was first with the B-S paper thereafter: although could it be that the B-S paper was in the making in 1972 already and somehow the opening of CBOE was timed for the paper release?
Does anyone know the story of CBOE and whether there is any link to Merton, Black & Scholes and their paper?