INVESCO POWERSHARES SP 500 BUYWRITE PORT: (AMEX: PBP)

This index measures total returns of a theoretical portfolio including the S&P 500 Index stocks on which S&P 500 Index call options are systematically written against the portfolio through a buy-write strategy. A buy-write, also called a covered call, generally is considered to be an investment strategy in which an investor buys a stock or basket of stocks, and also sells call options.

It is based on CBOE S&P 500 Buy Write Index. It invests 80% of its total assets in common stocks of 500 companies included in S&P 500 Index & write (sell) call options. Index measures total rate of return of S&P 500 covered call strategy of holding a portfolio indexed to the S&P 500 & selling a succession of written options, each with exercise price at or above the prevailing price of S&P 500.