S&P Puts Out 500 O-Strip Index

Currently made up of 74 Nasdaq-traded constituents, the S&P 500 O-Strip is maintained in accordance with the same index methodology as the S&P 500 and represents 15% of its market cap, according to S&P.

Both the S&P 500 and the S&P 500 O-Strip Index are capitalization weighted indices. Dividends, constituent changes and share count adjustments are treated in the same manner and implemented at the same time in the S&P 500 and the S&P 500 O-Strip Index.  

The total market cap of the S&P 500 O-Strip Index will be the same as the total market cap of the Nasdaq-traded stocks within the S&P 500. The proportional weight of any stock in the S&P 500 O-Strip Index will be larger than that stock’s proportional weight in the S&P 500 because the S&P 500 O-Strip Index is a subset of the S&P 500, the S&P announcement said.

It is expected that State Street Global Advisors will be licensed to create an ETF that will trade on the Amex along with options on the ETF, S&P said.

More information including index values can be found on www.indices.standardandpoors.com .