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Option Delisting of Stocks That Continue Trading: An Examination of Welfare Effects

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  • Bartunek, Kenneth S

Abstract

This paper addresses the resulting effects from the delisting of options on underlying stocks that continue to trade. The evidence generally supports the argument that options in this sample are delisted as a result of financial difficulty and/or a lack of interest. An insignificant average abnormal return and a small significantly negative average standardized abnormal return are observed around the delisting date, but the average price effect is determined to be considerably less than the normal discrete trading intervals at which stocks trade on exchanges. There are no effects found on volatility measures directly attributable to option delisting. Copyright 1996 by MIT Press.

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  • Bartunek, Kenneth S, 1996. "Option Delisting of Stocks That Continue Trading: An Examination of Welfare Effects," The Financial Review, Eastern Finance Association, vol. 31(3), pages 565-583, August.
    • Handle: RePEc:bla:finrev:v:31:y:1996:i:3:p:565-83
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    Cited by:

    1. Edward Curran & Jack Hunt & Vito Mollica, 2021. "Single stock futures and their impact on market quality: Be careful what you wish for," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(11), pages 1677-1692, November.

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