Options Trading and the Bid-Ask Spread of the Underlying Stocks

Bid, ask and transaction prices in a specialist market with heterogeneously informed traders

1985 • 6,148 citations

Asset pricing and the bid-ask spread

1986 • 5,250 citations

On estimating the expected return on the market

1980 • 2,932 citations

The Cost of Transacting

1968 • 1,909 citations

Information Effects on the Bid‐Ask Spread

1983 • 1,852 citations

Liquidity and Market Structure

1988 • 1,528 citations

THE SUPPLY OF DEALER SERVICES IN SECURITIES MARKETS

1978 • 1,374 citations

Fact and Fantasy in the Use of Options

1975 • 1,046 citations

The Only Game in Town

1971 • 899 citations

THE PRICING OF SECURITY DEALER SERVICES: AN EMPIRICAL STUDY OF NASDAQ STOCKS

1978 • 648 citations

Intraday Price Change and Trading Volume Relations in the Stock and Stock Option Markets

1990 • 455 citations

Informational Externalities and Welfare-Reducing Speculation

1987 • 449 citations

The Economics of Liquidity Services

1972 • 440 citations

Transaction Costs, Order Placement Strategy, and Existence of the Bid-Ask Spread

1981 • 394 citations

Option Prices as Predictors of Equilibrium Stock Prices

1982 • 381 citations

The Price Effect of Option Introduction

1989 • 337 citations

Options markets and stock return volatility

1989 • 289 citations

Earnings Announcements, Stock Price Adjustment, and the Existence of Option Markets

1986 • 200 citations

The Interrelation of Stock and Options Market Trading‐Volume Data

1988 • 191 citations

Liquidity and stock returns

2011 • 175 citations

The Effect of Sequential Information Arrival on Asset Prices: An Experimental Study

1987 • 100 citations

The Impact of Listed Options on the Underlying Shares

1979 • 42 citations