New BuyWrite ETF Based on CBOE BXN Index Launched Today

Today trading began in the Recon Capital NASDAQ 100 Covered Call ETF (QYLD).  The new QYLD ETF seeks to provide investment results that will closely correspond, before fees and expenses, generally to the price and yield performance of the CBOE NASDAQ-100® BuyWrite Index (BXN).


The CBOE NASDAQ-100 BuyWrite Index (BXN) measures the total return of a portfolio consisting of equity securities of the 100 companies included in the NASDAQ-100 Index, and call options systematically written on those securities through a “buy-write” or covered call strategy.

In 2013 (through the end of November), the BXN Index was up 14% the Citigroup 30-year Treasury Index was down 13%, and gold spot prices were down 25%.  The average gross monthly premiums for the BXN Index since Jan. 2008 were about 2.3%.  For more information, charts and data on the BXN Index, please visit