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  ISEE Calculation
  ISEE Measure
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ISE Sentiment Index® (ISEE®)

Intraday ISEE for 6/29/2007
Value Time
25 16:15:00 EST
Updated hourly during trading.
View Intraday Data

Historical Data
  Value Date
Previous Trading Day 25 6/29/2007
10-Day Moving Average 37 6/18/2007-6/29/2007
20-Day Moving Average 34 6/4/2007-6/29/2007
50-Day Moving Average 36 4/20/2007-6/29/2007
52-Week High 306 12/13/2006
52-Week Low 8 3/8/2007

Select a time period to view
Start Date End Date
About ISEE Index

The ISE Sentiment Index (ISEE) is designed to show how investors view stock prices. The ISEE only measures opening long customer transactions on ISE. Transactions made by market makers and firms are not included in ISEE because they are not considered representative of market sentiment due to the often specialized nature of those transactions. Customer transactions, meanwhile, are often thought to best represent market sentiment because customers, which include individual investors, often buy call and put options to express their sentiment toward a particular stock.


ISEE Index Chart

Calculating the ISEE

ISEE is computed by dividing opening long call options bought by customers by opening long put options bought by customers.

The index is then expressed as above 100 or below 100.
  ISEE > 100
More customers have opened long call options than put options. Call options increase in value when the underlying stock price increases.
  ISEE < 100
More customers have opened long put options than call options. Put options increase in value when the underlying stock price decreases.


What Does the ISEE Measure?

Every time an investor buys an opening long call or an opening long put on the ISE, ISEE captures that transaction and processes it as part of a broader algorithm that measures buying activity within ISE, the world's largest equity options market. By collating the buying decisions of options investors (persons other than broker-dealers), it may be possible to gain a better understanding of marketplace trends, which can help refine investment decisions.

Calls and puts may provide a relatively candid view of how investors feel about a stock, or even the stock market. Those views may often appear in the options market before the stock market.

Sentiment indicators may be a valuable part of investment research because they provide a snapshot into the psychology of the options market. Sentiment indicators are not substitutes for investment research and common sense.


ISEE Related Stories

A Simple, Practical Use for ISEE Select, SentimenTrader, 4/02/07
Contrarians are Smiling, MarketWatch, 3/13/07

A Different View of the ISEE� Schaeffer�s Investment Research; 2/16/06

Moving the Market � Tracking the Numbers � Wall Street Journal; 11/7/05

ISEE on the Cake?� Barron�s; 12/1/03