Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of
Standardized Options. Copies are available from your broker or at www.theocc.com. No statement within this ad should be construed as a recommendation
to buy or sell a security or to provide investment advice. Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded
options, are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy
employed satisfy the criteria of the Tax Code. Investors should consult with their tax advisors to determine how the profit and loss on any particular option
strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations. Cboe® is a registered trademark and
XSPSM is a service mark of Cboe Exchange, Inc. © 2019 Cboe Exchange, Inc. All rights reserved.
Gain broad market exposure,
hedge positions or generate
income with XSP index options.
No early exercise
May qualify for 60/40 blended tax treatment
OFFER THE BENEFITS
OF ETF OPTIONS, PLUS XSPSM