"As professional sports teams look to recapture ticket revenue from the secondary market, Chicago-based SmartOptions has been pushing them to consider an alternative: the pre-primary market..."
In the News
"In the financial markets, call options give you the opportunity to buy shares, commodities and other financial instruments on a pre-arranged date at a pre-arranged price..."
"The bad news for air travelers is that domestic fares have increased about 4.5 percent in 2012, bringing the average airline ticket to about $375..."
"OptionIt, operated by Chicago-based Smart Options, currently sells "reserve now ... decide later" options on sporting-event tickets and travel packages. It plans to offer options on airline tickets too, company officials say..."
"Airfare options work similarly to a stock option. The seller of the option charges a fee to hold your flight reservation at a certain fare, but you’re not obligated to buy a ticket. If your travel plans change, you can simply let the option expire and you’ve lost only the fee, not the full cost of the plane ticket..."
"Nobody wants to buy a $600 nonrefundable ticket, have their plans fall through and not be able to use it — or be forced to pay exorbitant fees to change flights..."