Leasing A Seat At One Of The Exchanges!

Discussion in 'Options' started by bvam1, Jun 19, 2002.

  1. bvam1


    Does anyone know how much it costs to lease a seat at one of the option exchanges, say the CBOE?
    I am interested in becoming an off-floor trader. Do you know how much it costs to trade one option contract in this case?
  2. almost nothing....look thru the options threads and ye shall have your answer....
  3. From what I hear, if you pay the dues, they will let you use the seat on the Pcoast and CBOE. Whatever it is, it will be cheap for the seat, expensive for the trading lesson.
  4. You can lease a seat at the Minneapolis Grain Exchange for $50/mo.

  5. MarkHyman

    MarkHyman Advanced Futures

    It cost approximately $550.00 a month to lease a seat on the exchange. The way it works is they take the last 3 prices of seats sold on the exchange, and than take the average price.
    They than take 1/2 to 3/4 % of the average price.
  6. rs7


    WOW....I paid about 7k a month in the late 80s....guess business has fallen off!!!
  7. is it possible to buy a seat at the cboe (+- 175.000$) and not to use it but just wait for a few years and maybe sell it if the price is higher. or do you have to actually use your seat.?

    i wouldnt mind buying a seat at the cboe and just wait a couple of years.

  8. MarkHyman

    MarkHyman Advanced Futures

    Go to the site: www.cboe.com
    You can call, and ask for membership, they should be able to answer your questions
  9. bvam1


    Wow, it costs that cheap to lease a seat at the CBOE?

    BTW, how much would an option contract costs me if I had a seat at the CBOE?
  10. I guess we have come full circle. In 1991 when I first leased on the AMEX, $1200 per month on a full membership. When I left in the spring of 1998, $6300 per month. I guess based upon the CBOE, $1200 for an AMEX is very high today.
    #10     Jun 20, 2002