Cboe's Strategy Benchmark Indexes www.cboe.com/Benchmarks

BuyWrite Indexes

Delayed Quotes
Sym Last Pt. Change
BXM 1466.46 -0.95
BXD 350.11 -0.08
BXMC 1552.04 -1.80
BXMD 2778.16 -4.12
BXMW 167.95 -0.04
BXN 670.68 -0.06
BXR 273.11 0.39
BXRC 228.46 0.32
BXRD 328.71 0.45
BXY 2201.35 -3.45

PutWrite Indexes

Delayed Quotes
Sym Last Pt. Change
PUT 1910.56 -0.77
PUTR 380.65 0.61
WPUT 195.10 0.07
WPTR 112.44 0.19

Combo Index

Delayed Quotes
Sym Last Pt. Change
CMBO 2003.31 -2.00

Butterfly and Condor Indexes

Delayed Quotes
Sym Last Pt. Change
BFLY 448.10 0.24
CNDR 742.22 0.28

Collar Indexes

Delayed Quotes
Sym Last Pt. Change
CLL 951.09 -1.40
CLLR 250.10 -0.02
CLLZ 1067.88 -1.89

Put Protection Index

Delayed Quotes
Sym Last Pt. Change
PPUT 941.10 -1.59

Risk Reversal Index

Delayed Quotes
Sym Last Pt. Change
RXM 1077.12 0.28

VIX-related Benchmark Indexes

Delayed Quotes
Sym Last Pt. Change
VPD 453.65 0.00
VPN 405.31 0.00
VXTH 241.65 -0.60
LOVOL 231.95 0.00
VSTG 158.95 0.00

Updated Price Charts

VXTH:



Target Outcome Indexes

Delayed Quotes
Sym Last Pt. Change
SPRO 2338.72 0.00
SPEN 3516.83 0.00
SPRI 5115.93 0.00
SPAI 410.40 0.00
SPATI 412.11 0.00
SUPDN 6113.75 0.00
SPEB01 2256.37 0.00
SPEB04 2156.17 0.00
SPEB07 2354.15 0.00
SPEB10 2209.51 0.00
SPEG01 3352.69 0.00
SPEG04 3346.41 0.00
SPEG07 3341.47 0.00
SPEG10 2892.12 0.00
SPRF01 2098.45 0.00
SPRF04 1928.73 0.00
SPRF07 2181.47 0.00
SPRF10 2003.54 0.00
SPRS01 2037.66 0.00
SPRS04 2002.12 0.00
SPRS07 2095.06 0.00
SPRS10 1760.89 0.00

Excerpts from News Clips

Options for Nervous Investors

"...Research suggests investors who use covered calls can turn the risk-reward trade-off in their favor by using a strategy based on stock indexes rather than individual stocks...Over 10 years through November, the BXM returned 4.2% a year, versus 2.9% for the S&P 500. Over 20 years, which counts the go-go 1990s, its lead is narrower: 8.4% versus 8.3%. During both periods its volatility was significantly lower than that of the S&P 500...

Wall Street Journal December 10, 2011

 

Buy Writing Makes Comeback as Way to Hedge Risk

"Pension executives are once again beginning to consider a long-standing but long-dormant derivatives strategy - covered call writing, or buy writing - to hedge their downside equity risk and add incremental alpha ... While options industry executives said the strategy is not new, two developments have given it more credibility. First, in 2002, the Cboe Options Exchange created a buy-write index based on the S&P 500, the Cboe S&P 500 BuyWrite Index, or BXM. ... Second, and possibly more important for institutional investors, Ibbotson Associates, Chicago, released a report...

Pensions & Investments. May 16, 2005.

Charts

Microsite chart
Microsite chart

The BXM, BXD, BXN, BXY, CLL and PUT indexes (the "Indexes") are designed to represent proposed hypothetical options strategies. The actual performance of investment vehicles such as mutual funds or managed accounts can have significant differences from the performance of the Indexes. Investors attempting to replicate the Indexes should discuss with their advisors possible timing and liquidity issues. Like many passive benchmarks, the Indexes do not take into account significant factors such as transaction costs and taxes. Transaction costs and taxes for strategies such as the Indexes could be significantly higher than transaction costs for a passive strategy of buying-and-holding stocks. Investors should consult their tax advisor as to how taxes affect the outcome of contemplated options transactions. Past performance does not guarantee future results. This web page contains index performance data based on back-testing, i.e., calculations of how the index might have performed prior to launch. Backtested performance information is purely hypothetical and is provided in this web page solely for informational purposes. Back-tested performance does not represent actual performance and should not be interpreted as an indication of actual performance. It is not possible to invest directly in an index. Cboe calculates and disseminates the Indexes. Supporting documentation for any claims, comparisons, statistics or other technical data is available from Cboe upon request. The methodologies of the Indexes are the property of Cboe Options Exchange, Incorporated (Cboe).

Copyright 2019 Cboe Options Exchange, All Rights Reserved