Beruflich Dokumente
Kultur Dokumente
Trade Mini-SPX Index options (XSP) for all the advantages of SPXSM at 1/10th the contract size.
Whether your goal is exposure to the broad market or portfolio protection, CBOEs Mini-SPX options (ticker symbol XSP)
offer all the advantages of S&P 500 Index options at 1/10th the contract size. Now you can tailor your trading strategies
with XSPSM options, and trade with greater efficiency and manageability.
CBOEs XSP options offer the same features as CBOEs SPX Index options, such as cash settlement, European-style exercise
and potentially favorable 60-40 tax treatment*. And now XSP is PM-settled, trading through the day at expiration (usually a Friday).
*Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded options, including SPX and XSP, are entitled
to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy
employed satisfy the criteria of the Tax Code. Investors should consult with their tax advisors to determine how the profit and loss on any
particular option strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.
**XSP Weeklys will be added one week at a time, beginning June 26, 2014.
www.cboe.com/XSP
|2
4. BROAD-MARKET EXPOSURE
5. TAX TREATMENT
Mini-SPX
Index Options
SPDR
ETF Options
Options Chain
SPX
XSP
SPY
Weeklys Ticker
SPXW
XSP
SPY
$190,000
$19,000
$19,000
European
American
Cash
Settlement Type
AM- or PM-Settlement
Micro Website
www.cboe.com/SPX
PM-Settled
www.cboe.com/XSP
www.cboe.com/SPY
* Investors should consult with their tax advisors to determine how the profit and loss on any particular option strategy will be taxed.
Tax laws and regulations change from time to time and may be subject to varying interpretations.
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. Copies are available from your broker, by calling 1-888-OPTIONS or from The Options Clearing Corporation at www.theocc.com. CBOE,
Chicago Board Options Exchange and Execute Success are registered trademarks and SPXSM, WeeklysSM and XSPSM are service marks of Chicago Board
Options Exchange, Incorporated (CBOE). S&P and S&P 500 are registered trademarks of Standard & Poors Financial Services, LLC and have been licensed
for use by CBOE. CBOEs options based on S&P indices are not sponsored, endorsed, sold or promoted by Standard & Poors, and Standard & Poors makes no
representation regarding the advisability of investing in such products. Copyright 2014 CBOE. All rights reserved.
www.cboe.com/XSP