... 16with 5 transactions for each bond issue. This sample forms the base regression sample.3.1 Summary statisticsTable 1 Panel A reports summary statistics for spreads, characteristics, and volatilitymeasures ... Hördahl, Borja Larrain, Monica Singhal, Jan Szilagyi, Josh White, Moto Yogo, and seminar participants at the Harvard Finance lunch, the Graduate Research Program at the European Central Bank ... data base. I match each bondtransaction to option data. Since option data is available starting in 1996, matchedoption data runs from 1996-1999. In order to ensure that the option data is actualtransaction...