Nasdaq Index Options offered at CBOE

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The Nasdaq-100 Index, launched in January 1985, represents the largest and most active non-financial domestic and international issues listed on The Nasdaq Stock Market® based on market capitalization. The index is calculated under a modified capitalization-weighted methodology.

Nasdaq-100 Index Options. Trading in cash-settled options on the Nasdaq-100 (NDX) index began on the CBOE on February 7, 1994. Nasdaq-100 Index Tracking Stock represents ownership in the Nasdaq-100 Trust, a long-term unit investment trust established to accumulate and hold a portfolio of the equity securities that comprise the Nasdaq-100 Index®. Its initial market value approximates 1/40 the value of the underlying Nasdaq-100 Index.

The Chicago Board Options Exchange offers the following products based on Nasdaq indexes. Unlike with a wide range of CBOE proprietary indexes based on the S&P, only one (*) of CBOE's Nasdaq indexes is proprietary[1]

NDX - Nasdaq-100 Index Options: Trading in cash-settled options on the Nasdaq-100 (NDX) index began on the CBOE on February 7, 1994. Nasdaq-100 Index Tracking Stock represents ownership in the Nasdaq-100 Trust, a long-term unit investment trust established to accumulate and hold a portfolio of the equity securities that comprise the Nasdaq-100 Index®. Its initial market value approximates 1/40 the value of the underlying Nasdaq-100 Index.

VXN(*) - CBOE Nasdaq-100 Volatility Index Options: The CBOE Nasdaq-100 Volatility Index, more commonly referred to as "VXN," is an up-to-the-minute market estimate of expected volatility that is calculated by using real-time Nasdaq-100 Index (NDX) option bid/ask quotes. VXN uses nearby and second nearby options listed on CBOE with at least 8 days left to expiration and then weights them to yield a constant, 30-day measure of the expected volatility of the Nasdaq-100 Index. VXN is quoted in absolute numbers that represent the volatility in percentage points per annum.

MML - CBOE Mini-NDX Index Options: The CBOE Mini-NDX Index is based on 1/10th the value of the Nasdaq-100 Index® (NDX). NDX is a modified capitalization-weighted index composed of 100 of the largest non-financial securities listed on the Nasdaq Stock Market. The index was created in 1985 with a base value set to 250 on February 1 of that year. After reaching a level of nearly 800 on December 31, 1993, the index level was halved on January 3, 1994.

References

  1. "Directory of Listed Products". occ.com.