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Vintage 1970s Warrant Options Computer Proposal CBOE Interdata Thorp Hedging
Pre-owned vintage paper lot with clear signs of age and handling. Pages are toned from age with edge wear, small tears, and creases, especially along the left margins and corners. First page has handwritten notes and a name in pen. Some scattered spotting is present, but all text and graphics remain intact and legible.
Original vintage typewritten proposal concerning a proposed computer-based stock options and warrant hedging system, apparently dating to the mid-1970s.
This is an unusual piece of financial and computing history rather than a conventional investment book.
The proposal outlines a plan to develop and market an option-hedge and warrant-hedge computer program using an Interdata minicomputer, with the system intended for banks, investment institutions, funds, or companies serving the investment industry.
The document discusses:
• Chicago Board Options Exchange (CBOE) and American Options Exchange (AOE)
• Stock options and warrants
• Computerized identification of underpriced and overpriced options
• Daily option closing prices and exercise prices
• Hedging strategies and investment positions
• Stock/option volatility
• Interdata minicomputers
• Edward O. Thorp and Sheen T. Kassouf\'s Beat the Market system
• Early concepts surrounding computerized options analysis and trading
The proposal contains handwritten annotations and signatures/names, including \"G. Kelley\" at the top and \"R.E. Carlson\" on the first page. These names are reproduced exactly as they appear on the original document; no identification of the individuals is being claimed.
Included with the proposal is an Options Clearing Corporation prospectus for Exchange Traded Call Options, covering the Chicago Board Options Exchange and American Stock Exchange. The prospectus is dated January 6, 1975.
The material is being sold as an original vintage paper/ephemera lot. It is particularly interesting to collectors of financial history, early computer applications, options trading, Wall Street history, quantitative finance, and vintage business documents.
Condition: Original vintage paper with age toning, handling wear, edge wear, folds/creases and other signs of storage/use. Please examine all photographs carefully.
Included: The original typewritten proposal and accompanying historical/reference material shown in the photographs.
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