The Chicago Board Options Exchange (CBOE) is the largest options exchange in the United States and one of the most prominent in the world. It was founded in 1973 as the first marketplace to trade standardized options contracts. The CBOE is owned by Cboe Global Markets, Inc., a leading exchange holding company that offers trading and investment solutions to investors worldwide. The CBOE provides a centralized platform for trading options contracts on various securities, including stocks, exchange-traded funds (ETFs), and indexes. Options are financial derivatives that give holders the right, but not the obligation, to buy or sell an underlying asset at a specified price (called the strike price) on or before a predetermined expiration date. The CBOE plays a crucial role in the financial markets by offering a transparent and regulated marketplace for options trading. It also creates and maintains various market indices, such as the CBOE Volatility Index (VIX), a widely-followed measure of market volatility and investor sentiment. Additionally, the exchange offers educational resources and tools for investors to understand options trading and risk management strategies better.