New BuyWrite ETF Launches
December 23rd at 1:00pm by Tom Lydon
Before the year closes out, PowerShares was able to launch a new exchange traded fund (ETF). The PowerShares S&P 500 BuyWrite Portfolio (PBP) began trading last week on NYSE Arca and tracks the CBOE S&P 500 BuyWrite Index. This index measures the total rate of return of an S&P 500 covered call strategy which consists of holding a portfolio indexed to the S&P 500, and selling a succession of one-month-at-the-money S&P 500 call options.
