Spiders finally trap options
Options on Standard & Poor’s Depository Receipts (SPDR) – so called ‘spider’ options – last month finally broke free of the legal web that slowed their appearance on the market. Investors have been anxiously awaiting the launch of SPDR options, which may pose a threat to the Chicago Board Options Exchange’s (CBOE) S&P index option products (SPX), for which the CBOE retains exclusive trading rights.
The options are derived from the underlying SPDR, the world’s largest exchange-traded fund (ETF) in
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