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iPath CBOE S&P 500 BuyWrite Index

This ETN offered by Barclays is designed to track the CBOE S&P 500 BuyWrite Index, which is also known as the BXM Index. This index measures the total rate of return of a hypothetical buy-write strategy on the S&P 500 Index. A buy-write strategy is also known as using covered calls, where a long position is purchased and a call at or near the money is sold.

The ETN trades on the Amex under the symbol BWV, and charges an expense fee of 0.75%.