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AMEX TO LAUNCH OPTIONS TRADING ON THE BIOTECHNOLOGY INDEX ("BTK") OCT. 9

AMEX TO LAUNCH OPTIONS TRADING ON THE BIOTECHNOLOGY INDEX ("BTK") OCT. 9
 NEW YORK, Sept. 25 /PRNewswire/ -- The American Stock Exchange today announced that it will launch put and call options on The Biotechnology Index (ticker symbol: "BTK") on Oct. 9, pending Securities and Exchange Commission (SEC) approval.
 Created by the Amex, The Biotechnology Index was developed as a way to capture the dynamic movements in the biotechnology industry. BTK is comprised of 15 of the most active manufacturers, developers and marketers of products and services that use biological processes to treat health care problems worldwide.
 Total market capitalization for the stocks in the Index is $16.8 billion as of the close of trading on Sept. 24.
 The Index includes the following company stocks:
 Amgen Inc. Genzyme Corporation
 Biogen, Inc. Greenwich Pharmaceuticals Inc.
 Cambridge Biotech Corp. Immunex Corporation
 Centocor Inc. Liposome Company, Inc.
 Chiron Corporation Scios Nova Inc.
 Cytogen Corporation Synergen Inc.
 Enzon, Inc. XOMA Corporation
 Gensia Pharmaceuticals, Inc.
 Each component stock listed in the BTK is represented in equal dollar amounts. This "equal dollar" weighting is designed to provide a more rounded measurement of the industry as a whole and avoid dominance by any one company.
 The Amex's Biotechnology Index options will be settled on the last business day prior to expiration and will be based on the first (opening) reported sale price for each stock.
 The Amex trades a total of 291 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- 9/25/92
 /CONTACT: Kathleen Fitzpatrick, manager - derivative securities communications of Amex, 212-306-1697/ CO: American Stock Exchange ST: New York IN: MTC SU: PDT


AH -- NY037 -- 3521 09/25/92 12:34 EDT
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Publication:PR Newswire
Date:Sep 25, 1992
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