ISE 100 Index

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The cash-settled proprietary ISE 100 Index (IXX) is a higher-volatility indicator that tracks the performance of the top 100 most actively traded equity option classes listed on the International Securities Exchange. The Index includes companies whose businesses are concentrated in information technology, health care, financials, industrials, consumer discretionary and staples, telecommunications, energy and materials listed in the U.S.

Similar to the ISE's other broad-based, pan-industry indexes, ISE 50 Index and ISE 250 Index, the ISE 100 is a capitalization-weighted index. However, it does not include stocks on the basis of market capitalization.

In addition to companies in the ISE 50 Index, familiar names like Starbuck's, McDonald's, Halliburton, Dell, CME Group, NYSE-Euronext, Amazon and Boeing appear, among others.[1]

The Index is calculated and maintained by Standard & Poor’s (S&P) based on a methodology developed by ISE in consultation with S&P.

As of Nov. 1, 2007, there are 31 ISE index options listed.

Contract Overview

Full specifications can be found at the ISE web site.[1]

Index multiplier $100 (e.g., options premiums are multiplied by 100 to obtain the actual premium amount).
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.
Expiration Months Up to three near-term months followed by three additional months from the March quarterly cycle (March, June, September and December).
Exercise Style European exercise -- options generally may be exercised only on the last business day before expiration.
Trading hours 9:30 A.M. - 4:15 P.M. Eastern Time (New York time).

References

  1. 1.0 1.1 Product Details. International Securities Exchange.