The Chicago Board Options Exchange announced that a CBOE seat traded above US$2 million for the first time ever yesterday.

A seat changed hands for US$2,050,000, a new all-time high at the CBOE. The seat sale surpassed the previous record of US$1,950,000, which was established on February 16. Additionally, two other CBOE seats were sold today – one for US$1,949,000 and the other for US$1,950,000. So far in 2007, 14 CBOE seats have been sold at prices ranging from US$1,800,000 to US$2,050,000.

During 2006, the highest price paid for a CBOE seat was US$1,775,000 on December 6. The lowest price paid was US$850,000 on January 30, 2006, and the last sale of the year was on December 27 for US$1,750,000. A total of 111 seats were bought in 2006.