CBOE Low Volatility Index

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The CBOE Low Volatility Index (ticker symbol LOVOL) is a benchmark index that was designed for investors whose preferences shifted from investing in riskier assets to lower-volatility assets. The index aims to provide investors with the ability to replicate an investment strategy that is subject to less downside volatility in a portfolio of S&P 500 stocks, while still preserving the bulk of market gains.[1]

The index tracks the S&P 500, plus the returns of a covered call strategy of selling bullish options, plus buying disaster insurance options on the VIX index.[2]

The Chicago Board Options Exchange began disseminating values for the index on Nov. 30, 2012.