DATE: October 15, 2012 QUESTION: Can you tell me about the new type of S&P 500 Index options contract, known as CBOE S&P Range options? ANSWER: CBOE Range options are European-style, cash-settled options that were designed to provide individual investors with a lower-risk, lower-cost way to trade S&P 500 Index options. Range options are listed under ticker symbol SRO. SROs pay an exercise settlement amount if the settlement value of the underlying index at expiration selected by the investor falls within a specified "range length." The range length for SROs is set at 70 S&P 500 Index points. To learn more about Range options, view this week's segment of "Ask the Institute."
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