BXNT Index
BXNT Index Dashboard, BXNT Dashboard
Index Dashboard
- BXNT
Cboe NASDAQ-100 BuyWrite V2 Index
- Overview
- Performance
Like the BXN, the CBOE NASDAQ-100 Buywrite V2 Index (BXNTSM) tracks the value of a hypothetical portfolio of securities (BXNT portfolio) that sells an at-the-money Nasdaq 100 call option to buffer exposure to negative returns of the NASDAQ 100 Stock Index. The difference between BXNT and BXN lies in the rebalancing process. In the case of BXNT, the NDX call option in the BXNT portfolio is bought back at the volume-weighted average price between 3:30 p.m. and 4:00 p.m. and a new NDX call is sold to replace it.
Resources
- Cboe NASDAQ BuyWrite Indices Methodology
- Click here to see the complete roll data.
Cboe BXNT Index Roll Information - March 21, 2025
| Index | Name | Reference Price | New Option Strike Price | New Option VWAP Price | Underlying Index VWAP |
|---|---|---|---|---|---|
| BXNT | Cboe NASDAQ-100 BuyWrite V2 Index | 19593.21087 | 19600 | 508.88307343071455 | 19600.74173179826 |
Cboe BXNT Index Roll Information - March 20, 2025
| Index | Name | Rebalance Date 1 | Rebalance Date 2 | VWAP NDX Rebalance 1 | Old Call VWAP Rebalance 1 |
|---|---|---|---|---|---|
| BXNT | Cboe NASDAQ-100 BuyWrite V2 Index | 3/20/2025 | 3/21/2025 | 19657.969393690037 | 0.08597785977859779 |
Cboe BXNT Index Roll Information - February 21, 2025
| Index | Name | Reference Price | New Option Strike Price | New Option VWAP Price | Underlying Index VWAP |
|---|---|---|---|---|---|
| BXNT | Cboe NASDAQ-100 BuyWrite V2 Index | 21934.38531 | 21950 | 387.18610286206155 | 21842.046643621692 |
BuyWrite Strategy
Goals
The goals of index buywrite strategies may include: (1) receive upfront premium income in exchange for an upside cap, and (2) reduce risk from related stock indices.
Strategy
To implement an index buy-write strategy: (1) buy a portfolio of stocks or an index ETF, and (2) “write” (or sell) covered calls on a related index option.
Comments
In a comparison of out-of-the-money (OTM) buywrites vs. at-the-money (ATM) buywrites with the same expirations, OTM buywrites often have more potential upside in bull markets, but collect less premium than ATM buywrites, which may have less severe losses in bear market years. Depending on different investment objectives, investors may choose to write calls on all or part of the portfolio, at a constant or dynamic strike, and/or at a dynamic roll schedule. Graphs can vary depending on the strategy used (e.g., an ATM or OTM buywrite strategy).