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The Index is a collateralized put write strategy on the S&P 500 Index. The strategy is designed to receive a premium from the option buyer by selling a sequence of one-month, at-the-money, S&P 500 Index puts (SPX puts). If, however, the value of the S&P 500 Index falls below the SPX Put’s strike price, the option finishes in-the-money and the Index pays the buyer the difference between the strike price and the value of the S&P 500 Index. The Index's strategy of selling cash-secured SPX Puts serves to partially offset a decline in the value of the S&P 500 Index to the extent of the premiums received.
2,257.95
As of 07/02/2021
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