U.S. Markets closed

Options exchange fails to open

Steve Rothwell, Markets Writer

NEW YORK (AP) -- Trading on the biggest exchange for financial options has been suspended.

Chicago Board of Options Exchange spokesperson Gail Osten says that the exchange failed to open at 8:30 a.m. Central time and remains closed. Osten can't give a reason for the delay or say when the exchange will reopen.

Stock options give the holder the right, but not the obligation, to buy and sell stocks. The CBOE is the largest U.S. options exchange. Many of the most frequently-traded stock options are bought and sold on its exchange.