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AMEX CREATES "ONE-STOP SHOPPING" WITH FORMATION OF ITS NEW RETAIL INDEX - SEEKS SEC PERMISSION TO TRADE OPTIONS ON NEW INDEX -

AMEX CREATES "ONE-STOP SHOPPING" WITH FORMATION OF ITS NEW RETAIL INDEX
 - SEEKS SEC PERMISSION TO TRADE OPTIONS ON NEW INDEX -
 NEW YORK, Sept. 2 /PRNewswire/ -- The American Stock Exchange today announced that it filed with the Securities and Exchange Commission (SEC) to trade options on its newly-created Retail Index. The filing marks the first time an exchange has proposed options trading on an index based on the performance of the retail store industry.
 Comprised of a cross-section of 15 of the largest general merchandise, clothing, equipment and appliance retailers in the U.S., the exchange's Index is designed to function as a barometer of the retail industry as a whole.
 "The Exchange's Retail Index was designed to act as an economic indicator that represents movements in retail spending as well as reflect consumer confidence at the national level. Options trading on the Index will offer investors a unique opportunity to participate in the activity in this market," said American Stock Exchange Chairman James R. Jones.
 Amex utilizes an "equal-dollar weighting" method to calculate the Index, which provides for each component stock to be represented in equal dollar amounts. This method ensures that the Index is not slanted in one direction by substantial movements in market prices by any one company.
 At the close of trading on Sept. 1, 1992, total market capitalization for the stocks in the Index was $170 billion. The Index stood at 214.32.
 The Retail Index is composed of the following stocks:
 Dayton Hudson Corporation Melville Corporation
 Dillard Department Stores Sears Roebuck and Co.
 Gap Incorporated TJX Companies Inc.
 Home Depot Incorporated Toys R Us Inc.
 J.C. Penney Company Inc. Walgreen
 K Mart Corporation Wal-Mart Stores Inc.
 Limited Inc. Woolworth Corporation
 May Department Stores Co.
 The Amex trades a total of 289 stock options, including 79 options on over-the-counter stocks, as well as 33 LEAPS (TM) (Long-term Equity AnticiPation Securities). In addition, options are traded on five broad-market indexes-- the Major Market Index (XMI), the XMI LEAPS (TM) Index (XLT), the S&P MidCap 400 Index (MID), the Institutional Index (XII), and the Japan Index (JPN)-- as well as three industry based indexes-- the Oil Index (XOI), the Computer Technology Index (XCI) and the Pharmaceutical Index (DRG). CAPS -- Capped Options -- are also traded on XII.
 -0- 9/2/92
 /CONTACT: Shelly Wolfe, 212-306-1641, or Kathleen Fitzpatrick, 212-306-1697, both of Amex/ CO: American Stock Exchange ST: New York IN: REA FIN SU: PDT


AH -- NY022 -- 5819 09/02/92 10:13 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
Words:416
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