CBOE Options on the iPath S&P 500 VIX Short-Term Futures Index ETN

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Options on the iPath S&P 500 Short-Term VIX Futures Index ETN (VXX) were introduced for trading at CBOE on May 28, 2010.

VXX is an exchange-traded note ("ETN") based on The S&P 500 VIX Short-Term Futures Index, which is designed to provide access to equity market volatility through CBOE Volatility Index ("VIX") futures.

Specifically, the S&P 500 VIX Short-Term Futures Index offers exposure to a daily rolling long position in the first and second month of VIX futures contracts and reflects the implied volatility of the S&P 500 Index one month later. The index futures roll continuously throughout each month from the first month of the VIX futures contract into the second month of the contract.

CBOE simultaneously introduced trading in CBOE Options on iPath S&P 500 VIX Mid-Term Futures Index ETN.

Important information about the VXX and VXZ ETNs is contained in the Prospectus for VXX and VXZ.

More information on VXX can be obtained at http://www.cboe.com/micro/vxx/introduction.aspx.


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