Cboe S&P 500 30-Delta BuyWrite Index (BXMD)
The Cboe S&P 500 30-Delta BuyWrite IndexSM (BXMD) is a variation of the Cboe BuyWrite Index (BXM) that tracks the value of a hypothetical portfolio (BXMD portfolio) that overlays a short 30-delta call option on the S&P 500® (30-delta SPX call) instead of an-at-the-money option. The smaller premium of a 30-delta call relative to an-at-the-money call provides a smaller buffer but also less giveup on the upside. The BXMD portfolio is rebalanced monthly after the expiration of the 30-delta SPX call, typically 11 am ET every third Friday. A new 30-delta SPX call is then sold.