KBW Bank Index
The cash-settled KBW Bank Index (BKX), traded on the International Securities Exchange and PHLX, is a float-adjusted, modified market-cap index comprising 24 leading national money center banks and thrifts used used to hedge exposure to this sector. BKX captures over $1.2-trillion market capitalization of the U.S. banking industry. Citigroup, Bank of America, J.P. Morgan Chase, Wells Fargo, Wachovia, and the Bank of New York Mellon Corp. are a few of the banks covered in the Index.
KBW relates to financial service firm Keefe, Bruyette & Woods, is an institutionally oriented securities broker/dealer and full service investment bank that specializes in the financial services sector.
Trading hours: 9:30 A.M. - 4:00 P.M. Eastern Time (New York time).
Expiration months: Three near-term months followed by two additional month from the March quarterly
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.
Full specifications: 1