The Cboe S&P 500 Range-Bound Premium Income Index (the
"Index") is part of the family of Target Outcome Indices. The Index is designed to provide a target level of monthly premium income that exhibits low correlations to monthly return from US domestic fixed income markets and directionally neutral to monthly returns of the US domestic stock market.
The Index measures the performance of a portfolio of short term T-Bills and exchange traded Flexible Exchange
® Options ("FLEX
® Options") that are based on the S&P 500
® Index. The Index is designed to track the returns of an investment that over a period of approximately one month seeks to provide a target level of premium income from sales and purchase of options while minimizing the risk of loss from the options positions.
Cboe S&P 500 Range-Bound Premium Income Index (SPRI