ISE 50 Index

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The ISE Stock Exchange's proprietary ISE 50 Index (IXK) tracks the performance of the “Mega-Cap” stocks in information technology, health care, financials, industrials, consumer discretionary and staples, telecommunications and energy, listed in the United States (subset of the ISE 250, generally including the top 50 stocks). The ISE 50 is a capitalization-weighted index.

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


ISE 50 Index components:

  • Apple
  • Abbott Labs
  • AIG American Int'l. Group
  • Altria Group
  • American Express
  • Amgen
  • AT&T Inc.
  • Bank of America
  • Boeing Company
  • Chevron
  • Cisco Systems
  • Citigroup
  • Coca Cola
  • Comcast
  • ConocoPhillips
  • Eli Lilly
  • Exxon Mobil
  • General Electric
  • Google Inc.
  • Goldman Sachs
  • Hewlett-Packard
  • Home Depot
  • IBM International
  • Intel Corp.
  • Johnson & Johnson
  • JPMorgan Chase & Co.
  • Medtronic Inc.
  • Merck & Co.
  • Merrill Lynch
  • Microsoft
  • 3M Company
  • Morgan Stanley
  • News Corporation
  • Oracle Corp.
  • PepsiCo Inc.
  • Pfizer
  • Procter & Gamble
  • QUALCOMM Inc.
  • Schlumberger Ltd.
  • Time Warner Inc.
  • Tyco International
  • United Health Group Inc.
  • United Parcel Service
  • United Technologies
  • Verizon Communications
  • Wachovia Corp.
  • Wal-Mart Stores
  • Walt Disney
  • Wells Fargo
  • Wyeth


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. Product Details. International Securities Exchange.