Mark,
What do you think of this? "European style" expiration sounds a little tough to me.
NW
Subj: Amex To Launch Options Trading On The Computer Hardware...
Date: 98-04-23 11:27:19 EDT
Amex To Launch Options Trading On The Computer Hardware Index
-- New Investment Tool Offers Tailored Exposure to Computer Hardware Stocks --
NEW YORK, April 23 /PRNewswire/ -- The American Stock Exchange today announced it will trade options on The Computer Hardware Index beginning Monday, April 27. Listed under the ticker symbol HWI, the new equity index is comprised of ten actively-traded companies involved in designing and manufacturing computer hardware, including desktop PCs, workstations and client/server systems.
"Options on The Computer Hardware Index provide individual and institutional investors with tailored exposure to a sub-sector of technology that has grown increasingly competitive," said Joseph B. Stefanelli, executive vice president for derivative securities at the Amex. "HWI focuses on a basket of stocks that are household names in technology and among the most liquid stocks in the world."
The Computer Hardware Index consists of the following ten stocks:
(AAPL) Apple Computer, Inc. (IBM) International Business Machines, Corp.
(CPQ) Compaq Computer, Corp. (MUEI)Micron Electronics, Inc.
(DELL) Dell Computer Corp. (SGI) Silicon Graphics, Inc.
(DEC) Digital Equipment Corp.(SRA) Stratus Computer, Inc.
(GTW) Gateway 2000, Inc. (SUNW)Sun Microsystems, Inc.
The specialist unit for HWI options will be Susquehanna Investment Group.
The Computer Hardware Index is "equal-dollar weighted" to ensure that each of its component securities is represented in approximate equal dollar value. Adjustments to the index are made quarterly in order to ensure that each component stock continues to represent approximate equal market value. HWI options feature "European style" expiration and cash settlement, meaning that options may be exercised only on the last business day prior to expiration.
The Amex trades options on 29 broad-based and sector indexes and 924 stocks -- including 408 over-the-counter stocks and 92 American Depositary Receipts (ADRs)-- and 108 Long-term Equity AnticiPation Securities(R) (LEAPS(R)). In addition, the Amex is a leader in listing warrants on foreign currencies and indexes as well as hybrid instruments and other structured products.
Visit Amex. web site located at amex.com
SOURCE American Stock Exchange
CO: Computer Hardware Index
ST: New York
IN: CPR
SU:
04/23/98 11:22 EDT prnewswire.com |
