It's safe to say 2013 turned out better than expected for the stock market.
In the year to date, the S&P 500 index is up over 27%.
As the chart below from options guru Jared Woodard of Condor Options illustrates, 2013 was the first year in a long time that the market was able to outperform the upper end of the range implied by options at the beginning of the year.
We experienced a similar situation in 2008 — but to the downside.
Check it out:
More From Business Insider
- There Are Two Americas, And One Is Better Than The Other
- Goldman Sachs Chief Economist Jan Hatzius Reveals His Favorite Chart Of The Year
- Here Are The Winners And Losers Of The 21st Century So Far
- stock market