New exchange traded note tracks covered calls; Barclays product uses buy-write strategy for covered calls.(News) From: Investment News | Date: June 11, 2007 | COPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Byline: David Hoffman

PHILADELPHIA - In a further sign of how exchange traded products are chasing more exotic strategies, Barclays Bank PLC of London has unveiled an exchange traded note that provides investors with exposure to a covered-call-writing strategy.

Launched last month with the help of the Chicago Board Options Exchange, the iPath CBOE S&P 500 BuyWrite Index ETN follows an index that attempts to measure the returns of a theoretical portfolio of St...