CBOE S&P 500 BuyWrite Index

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CBOE S&P 500 BuyWrite Index

An index showing the performance of a buy-write strategy involving the stocks on the S&P 500. That is, the BuyWrite Index shows an investor what would happen if she/he purchased the stocks on the S&P 500 and wrote call options in which the S&P 500 index were the underlying asset. See also: Covered call.
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The Fund will employ a variety of tax-management techniques and strategies, seeking to outperform a pure replication of the CBOE(R) S&P 500(R) Buy-Write Index (BXM Index) on an after-tax basis.