International Securities Exchange Begins Trading Options on Market Vectors - Gold Miners ETF
December 26 2006 - 12:38PM
PR Newswire (US)
NEW YORK, Dec. 26 /PRNewswire/ -- International Securities Exchange
(ISE) began trading today in the options of Market Vectors - Gold
Miners ETF (GDX), an exchange-traded fund. The options opened with
strike prices of 32-45 (1pt increments) and position limits of
75,000 contracts. They trade on the March expiration cycle. The
primary market maker is Citadel Derivatives Group, LLC. GDX seeks
to replicate as closely as possible, before fees and expenses, the
price and yield performance of the Amex Gold Miners Index*
(AMEX:GDM). The Index, comprised of publicly traded companies that
are involved in mining for gold and silver, has 40 constituents as
of December 22. Van Eck Associates Corporation is investment
adviser for Market Vectors - Gold Miners ETF. GDX shares have been
trading on the American Stock Exchange since May 22, 2006. GDX
options are listed on the Amex, CBOE and NYSE/Arca. * The return of
the Amex Gold Miners Index does not represent the performance of
any fund. GDM charges no fees, including management fees or
brokerage expenses. Investors cannot invest directly in GDM. About
Van Eck Global Founded in 1955, Van Eck Associates Corporation was
among the first U.S. money managers helping investors achieve
greater diversification through global investing. Today the firm
continues the 50+ year tradition by offering global investment
choices in hard assets, emerging markets, precious metals including
gold, and other specialized asset classes. Van Eck Global's mutual
funds are sold nationwide through retail brokers, financial
planners and investment advisors. Designed for investors seeking
innovative choices for portfolio diversification, they are often
categorized in asset classes having returns with low correlations
to those of more traditional U.S. equity and fixed income
investments. Van Eck Global also offers exchange-traded funds,
separate accounts and alternative investments. In addition, it
offers the Worldwide Insurance Trust Funds, a series of investment
choices within the variable annuity contracts and variable life
policies of widely known and highly regarded insurers. As of
November 30, 2006, the company managed over $4.6 billion in
investor assets. About the Amex Gold Miners Index GDM, a trademark
of the Amex, is licensed for use by Van Eck Associates Corporation
in connection with GDX. The Amex neither sponsors nor endorses GDX
and it makes no warranty or representation as to the accuracy
and/or completeness of GDM or results to be obtained by any person
from use of GDM in connection with trading of GDX. GDX investment
returns and principal value will fluctuate and shares, when sold,
may be worth more or less than their original value. Please call
1.888.MKT.VCTR or visit http://www.vaneck.com/gdx for the most
recent month-end performance of GDX. This information will be
available no later than seven business days after the most recent
month end. Past performance does not guarantee future results.
Investing involves risk, including possible loss of principal.
Market Vectors - Gold Miners ETF shares can be bought and sold only
through a broker (who may charge a commission) and cannot be
redeemed with the issuing fund. The market price of Fund shares may
be more or less than their net asset value. Investors may call
1.888.MKT.VCTR or visit http://www.vaneck.com/gdx for a free
prospectus. Investors should consider the investment objective,
risks, and charges and expenses of GDX carefully before investing.
The prospectus contains this and other information about GDX.
Please read the prospectus carefully before investing. Van Eck
Securities Corporation, Distributor, 99 Park Avenue, New York, NY
10016 DATASOURCE: Van Eck Global CONTACT: Mike MacMillan, or Andrew
Schiff, both of MacMillan Communications, +1-212-473-4442, or Web
site: http://www.vaneck.com/gdx
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