Description of Index: SPX LEAPS', Long-term Equity AnticiPation Securities, are long-term options based on 1/1Oth of the S&P 500 Index (SPX), The S&P 500 is a capitalization-weighted index of 500 stocks from a broad range of industries whose collective performance mirrors the overall stock market. SPX LEAPS& contracts trade independently of and in addition to SPX options. SPX LEAPS contracts have longer terms until expiration than SPX options.