ISE U.S. Regional Banks Index
With 20 component stocks, the Index attempts to capture at least two-thirds of the entire U.S. regional bank's market capitalization. Due to the non-uniform weight distribution across entire industries, an equal-weighted methodology or a “modified market capitalization-weighted" methodology is used to adjust the weighting of component stocks, and individual component weightings are limited to 25% at semi-annual reviews. Quarterly rebalancing events are used to “re-set” the weighting of each component so each component has an equal influence on the index performance.
Some of the regional banks included in the Index include: SunTrust Banks, National City Corp., Fifth Third Bancorp., City National Corp., and UnionBanCal Corp.
The ISE U.S. Regional Banks Index is one of eight ISE industry indexes that also include: ISE Oil & Gas Services; ISE Semiconductor Index; ISE Integrated Oil; ISE Gold; ISE Semiconductors; ISE Biotech & Pharmaceuticals; ISE Homebuilders and ISE SINdex.
As of Nov. 1, 2007, there are 31 ISE index options listed.
Full specifications can be found at the ISE web site.
|Trading hours||9:30 A.M. - 4:00 P.M. Eastern Time (New York time).|
|Expiration months||Four near-term months followed by one additional month from the March quarterly cycle (March, June, September and December).|
|Strike price intervals||At least $2.50.|
|Minimum trading increments||The minimum trading increment for an options contract trading at less than $3.00 is $0.05. The minimum trading increment for an options contract trading at $3.00 or higher is $0.10.|
- Product Details. International Securities Exchange.