Many individual investors and analysts rely primarily on published financial data of individual firms to evaluate their performance over a given time period. Changes in federal tax policy can have a significant differential impact on reported firm performance. Understanding how these changes...

We study the effects of option expirations on the prices of the underlying stocks days before expiration. We collected daily stock prices from Daily Stock Price Records published by the Standard & Poor's Corporation and the Wall Street Journal. The data covered the time period from January 1979...