BWV

iPath CBOE S&P 500 BuyWrite Index ETN

The iPath® CBOE S&P 500 BuyWrite IndexService Mark ETN offers investors cost-effective exposure to the CBOE S&P 500 BuyWrite IndexService Mark, commonly known as the BXM IndexService Mark (the "Index"). The Index is designed to measure the total rate of return of a hypothetical "buy-write", or "covered call", strategy on the S&P 500® Index. This strategy consists of a hypothetical portfolio consisting of a "long" position indexed to the S&P 500® Index (i.e. purchasing the common stocks included in the S&P 500® Index) and the sale of a succession of one-month, at– or slightly out-of-the-money S&P 500® Index call options that are listed on the Chicago Board Options Exchange ("CBOE").
See more details on sponsor's website