Buy-write

The term buy-write is used to describe an investment strategy in which the investor buys stocks and writes call options against the stock position. The writing of the call option provides extra income for an investor who is willing to forgo some upside potential.

History

Investors have used exchange-listed options to engage in buy-write strategies since the 1970s, and descriptive articles were published in the The Journal of Portfolio Management in 1978 by Henry Pounds and in 1980 by Yates and Kopprasch (see references section below). However, prior to 2002 there was no major benchmark for buy-write strategies. To help in the development of the CBOE S&P 500 BuyWrite Index (ticker BXM), the Chicago Board Options Exchange commissioned Professor Robert Whaley of Vanderbilt University to compile and analyze relevant data from the time period from June 1988 through December 2001. In April 2002, the index was announced with the publication of "Return and Risk of CBOE Buy-Write Monthly Index" in Journal of Derivatives (Winter 2002). The BXM Index is designed to show the hypothetical performance of a strategy in which an investor buys a portfolio of the S&P 500 stocks, and also sells (or writes) covered call options on the S&P 500 Index.

Writing

Writing is a medium of human communication that represents language and emotion through the inscription or recording of signs and symbols. In most languages, writing is a complement to speech or spoken language. Writing is not a language but a form of technology that developed as tools developed with human society. Within a language system, writing relies on many of the same structures as speech, such as vocabulary, grammar and semantics, with the added dependency of a system of signs or symbols. The result of writing is generally called text, and the recipient of text is called a reader. Motivations for writing include publication, storytelling, correspondence and diary. Writing has been instrumental in keeping history, maintaining culture, dissemination of knowledge through the media and the formation of legal systems. It is also an important medium of expressing oneself by way of written words as do authors, poets and the like.

As human societies emerged, the development of writing was driven by pragmatic exigencies such as exchanging information, maintaining financial accounts, codifying laws and recording history. Around the 4th millennium BCE, the complexity of trade and administration in Mesopotamia outgrew human memory, and writing became a more dependable method of recording and presenting transactions in a permanent form. In both Ancient Egypt and Mesoamerica writing may have evolved through calendrics and a political necessity for recording historical and environmental events.

Write (disambiguation)

Writing is a medium of human communication that represents language and emotion through the inscription or recording of signs and symbols.

Writing may also refer to

Write may refer to:

Buyō

Buyō (舞踊) or Nippon buyō/Nihon buyō (日本舞踊) is a traditional Japanese performing art, a mixture of dance and pantomime, which emerged in the early Edo period (early 17th century) from earlier traditions. While performed independently by specialists, it is particularly conspicuous as the style of dancing performed by geisha.

Influences

Nihon buyō differs from other Japanese traditional dances in that it is intended for entertainment on stage. Nihon buyō is a refined dance that has been improved throughout four centuries. There are four influences on Nihon buyō, the most significant being kabuki buyō. Nihon buyō was created directly from kabuki buyō before it became theater. The second influence on Nihon buyō is noh. Nihon buyō takes a few key elements from noh such as the circular movements and the tools used in its dances. The third influence on these dances comes from folk dances; the spinning and jumping used in folk dances was incorporated into Nihon buyō. The last influence comes from the mixture of European and American culture that is found in Japan today.

Buy

Buy may refer to:

Buy, Kostroma Oblast

Buy (Russian: Буй) is a town in Kostroma Oblast, Russia, which stands on the Kostroma River. Population: 25,763 (2010 Census); 27,392 (2002 Census); 32,701 (1989 Census).

History

Buy was originally a trading post and protected by a hill fortress of Finno-Ugrian Meri people c. 400–500 CE. Its original Meri name is not known, but in Finnish language it was called either Vuoksensuu or Vieksansuu (lit. Mouth of Vuoksi/Vieksa). It was inhabited by the Finno-Ugrian peoples at least up to the Mongol invasion of Russia in 1237–1238. During the Mongol threat, some inhabitants of Kostroma sought refuge in Buy, and it seems that they renamed the place Buy (Vui, Bui) instead of using the Finno-Ugrian name which was difficult for them to pronounce, but the origin of the Russian name comes from the old Meri name.

Modern Buy was founded in 1536 as a fortified point at the confluence of the Kostroma and the Vyoksa Rivers. The fortified point was built according to the order of Yelena Glinskaya, the regentess of Russia at that time and the mother of Ivan the Terrible, to defend the eastern frontiers of the Grand Duchy of Moscow from the raids by Kazan Tatars and others. However, twenty years after its construction, the fortress lost its military significance, as Kazan was taken and the raids ceased.