New Index Options to Offer Investors Tailored Exposure to Internet Commerce Industry
NEW YORK, Feb. 4. /PRNewswire/ -- The Nasdaq-Amex Market Group today announced it will trade options on the TheStreet.com E-commerce Index (ticker symbol: ICX) beginning February 17, 1999. Listed on The American Stock Exchange, the new equity index consists of fifteen actively-traded companies that generate all or a significant portion of their revenue from commerce conducted over the Internet.
The new Index was developed by The American Stock Exchange and TheStreet.com, a leading online financial and investment news publication, as a way for investors to participate in the "e-commerce" sector, one of the most volatile and actively-traded sectors of the stock market. Using options on the Index, investors can manage their exposure to these stocks, either creating opportunities for profit or hedging against risk.
"Internet commerce has emerged as an important growth area in the U.S. stock market in recent months," said Clifford Weber, vice president for new product development at the Amex. "The volatile nature of this sector makes options an appealing way to participate in the sector's development. Because the index tracks the movement of 15 different stocks, company-specific risk is reduced."
TheStreet.com E-commerce Index consists of the following fifteen stocks:
AMZN Amazon.com, Inc. HLYW Hollywood Entertainment Corp.
AMTD Ameritrade Holding Corp. MWHS Micro Warehouse, Inc.
BKS Barnes & Noble, Inc. NTKI N2K Inc.
BVSN BroadVision Inc. NM National Media Corp.
CDNW CDnow, Inc. ONSL ONSALE, Inc.
EGRP E*TRADE Group, Inc. PPOD Peapod, Inc.
EBAY eBay Inc. PTVL Preview Travel, Inc.
EGGS Egghead.com, Inc. |
