The Early History of Option Contracts

Geoffrey Poitras

Chapter 18 in Vinzenz Bronzin’s Option Pricing Models, 2009, pp 487-518 from Springer

Abstract: Abstract This chapter discusses the history of option contracts from ancient times until the appearance of Theorie der Prämiengeschäffe by Vinzenz Bronzin in 1908. The history examines the use of contracts with option features prior to the introduction of trade in free standing option contracts on the Antwerp bourse during the 16th century. Descriptions of the Amsterdam share option market by de la Vega in the 17th century and de Pinto in the 18th century are reviewed. The specific language of a late 17th century English option contract is provided in detail. The development and practice of option trading in the 18th and 19th centuries, as reflected in merchant manuals of that period, is examined. The article concludes with an overview of late 19th century option trading in securities and commodities.

Keywords: Option Price; Call Option; Stock Option; Expiration Date; European Option (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-85711-2_24

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DOI: 10.1007/978-3-540-85711-2_24

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