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BXM Price Charts

The CBOE S&P 500 BuyWrite Index (BXM) Quick Reference Guide A two-page PDF guide
If you wish to create customized, up-to-date charts, please visit the Advanced Charts page


Below is a chart with the performance of the CBOE S&P 500 BuyWrite Index (BXM). Please note that the charts below are not current and are intended for reference purposes only.


BXM Index

Past performance is not necessarily indicative of future returns. Please read important disclosures below.


"Standard deviation" is a statistical measure that reflects the past variability of returns. Risk-averse investors often prefer assets with relatively low standard deviations, while more aggressive investors are willing to accept higher standard deviations in their search for assets with potentially higher returns. For more information on standard deviation, please click here *.

Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options. Supporting documentation for claims, comparisons, recommendations, statistics or other technical data is available by calling 1-888-OPTIONS, sending an e-mail to institutional@cboe.com, or by visiting www.cboe.com/bxm.

The BXM Index is designed to represent a proposed hypothetical buy-write strategy. Like many passive indexes, the BXM Index does not take into account significant factors such as transaction costs and taxes. Because of factors such as these, many or most investors should be expected to under perform passive indexes. Transaction costs for a buy-write strategy such as the BXM could be significantly higher than transaction costs for a passive strategy of buying-and-holding stocks. Past performance does not guarantee future results.

During the period from June 1989 through December 2001, the BXM Index had higher risk-adjusted returns than one might have expected - this phenomenon has been attributed to the fact that implied volatility often was higher than historic volatility during this time period.






If you wish to create customized, up-to-date charts, please visit the Advanced Charts page

*More information on standard deviation. "Standard deviation" is a statistical description of the range of a portfolio's returns - the higher the standard deviation, the wider the range of historical returns around its average return. Although past performance is not a guarantee of future returns or risks, some assets (U.S. Treasury bills) have tended to have lower standard deviations than other assets (e.g., technology stocks) over longer periods of time. The mathematical equation for standard deviation is the square root of the average of the squared distances of the observations from the mean. About two-thirds of the time, the returns for a portfolio are expected to fall within one standard deviation of the mean; so for example, if a money market fund has had an average monthly return of 0.50% and a standard deviation of 0.15%, in past months the returns for the fund should have been between 0.35% and 0.65% about two-thirds of the time.

In March 2003 the CBOE made slight revisions to the historical return series of BXM prices from August 16, 2002 through March 7, 2003; the revised prices are reflected in the charts and tables above and on BXM historical data speadsheets.



Updated Price Charts

CBOE S&P 500 BuyWrite Index (BXMSM): www.cboe.com/BXM

Intraday



1 week



3 month



6 month



1 year



5 year



5 year % change vs. S&P 500 Index (SPX) *

* The S&P 500 Index (SPX) is a price index that does not include reinvested dividends.


More Index Charts

Link to more Index Charts


Links for More Up-to-date Price Information

Price Quotes Page
Advanced Charts


Spreadsheets with Historical Price Data

Historical Daily Prices - Spreadsheet with Closing Prices for Several Indexes
Historical Month-end Prices - Spreadsheet with Closing Prices for Several Indexes
In addition, Market Data Express gives users access to more than 16 years of historical options data





The CBOE S&P 500 BuyWrite Index (BXMSM) is designed to represent a proposed hypothetical buy-write strategy. Like many passive indexes, the BXM Index does not take into account significant factors such as transaction costs and taxes and, because of factors such as these, many or most investors should be expected to underperform passive indexes. Investors attempting to replicate the BXM Index should discuss with their brokers possible timing and liquidity issues. Transaction costs and taxes for a buy-write strategy such as the BXM could be significantly higher than transaction costs for a passive strategy of buying-and-holding stocks. Past performance does not guarantee future results. Standard & Poor's®, S&P®, and S&P 500® are registered trademarks of The McGraw-Hill Companies, Inc. and are licensed for use by the Chicago Board Options Exchange, Incorporated (CBOE). CBOE, not S&P, calculates and disseminates the BXM Index. The CBOE has a business relationship with Standard & Poor's on the BXM. LEAPS®, FLEX®, OEX®, XEO®, MNX®, CBOE® and Chicago Board Options Exchange® are registered trademarks of the CBOE, and SPXSM, and CBOE S&P 500 BuyWrite IndexSM BXMSM are servicemarks of the CBOE. The methodology of the CBOE S&P 500 BuyWrite Index is owned by CBOE and may be covered by one or more patents or pending patent applications.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Supporting documentation for claims, comparisons, recommendations, statistics or other technical data is available by calling 1-888-OPTIONS, sending an e-mail to institutional@cboe.com, or by visiting www.cboe.com/bxm.

Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.

CBOE Volatility Index (VIX)