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ICE

Exchange Traded Product (ETP) Options

Exchange-traded funds are index funds or trusts that are traded intraday on an exchange. They allow an investor to buy or sell shares of an entire stock portfolio in a single security.

Options on ETFs operate the same as individual equity options. They offer the efficiency of ETFs with the flexibility of options and allow investors to:

Gain exposure to the performance of an index

Hedge and hence protect a portfolio against a decline in assets

Enhance returns on a portfolio

Profit from the rise or fall of an ETF by taking advantage of leverage

ETF options are standardized put and call options on underlying ETFs. Minimum trade size is one option contract, with each contract representing 100 shares of the underlying ETF.

NYSE American Quarterly Options


Name
Symbol
Keefe Bruyette Woods Bank Index
BKX
SPDR GOLD TRUST
GLD
DIAMONDS
GLD
Nasdaq-100 Index Tracking Stock
QQQ
SPDRs
SPY
Energy Select Sector SPDR
XLE
iShares Russell 2000
IWM

NYSE Arca Quarterly Options


Name
Symbol
Keefe Bruyette Woods Bank Index
BKX
SPDR GOLD TRUST
GLD
DIAMONDS
GLD
Nasdaq-100 Index Tracking Stock
QQQ
SPDRs
SPY
Energy Select Sector SPDR
XLE
iShares Russell 2000
IWM

Additional Options Types


Equity Options

Equity options, which are the most common type of equity derivative, give an investor the right but not the obligation to buy or sell a call or put at a set strike price prior to the contract’s expiry date.

Index Options

Index options make it possible for investors to seek either profit or protection from price movements in a market as a whole or in broad segments of a particular market.

ETO Options

Options on ETFs allow investors to gain exposure to the performance of an index, hedge against a decline in assets, enhance portfolio returns, and/or profit from the rise or fall of a leveraged ETF.

FLEX & LEAPS

FLEX and LEAPS options offer investors increased flexibility in terms of contract customization (such as expiration date, exercise style, and exercise price) and time frame (with expirations of up to three years out).