The Relationship Between Religious Institutions And Society

In 2013, Pope Francis delivered an apostolic exhortation on family life, â€Å"Amoris Laetitia,† better known as â€Å"The Joy of Love.† Establishing a sense of resolution within the Catholic Church about homosexuality has also reopened the original debate on the propriety of a coexisting homosexual Christian. This has been a concern in not only the Catholic Church, but sub-religions within the entire Christian community. It is interesting to comprehend the relationship between religious organizations and society—mainly how one influences the other in doctrines, values, and beliefs, specifically in regards to homosexuality. Regarding the relationship between Christian religious institutions, society, and homosexuality, the articles should†¦show more content†¦Hilliard discussed when, in London in the 1880s, a subculture of homosexuality began to take its own collective form and that this subculture felt â€Å"freed from the respectability and the puri tanism of the churches.† This is due to the fact that Anglo-Catholicism had looser sets of religious practices, and because of this it actually increased the amount of ‘social rebels’ within the churches. These two pieces of ‘evidence,’ however, are not entirely concrete because it is anecdotal; however, they strongly imply that the Catholic churches are outwardly against homosexuality but have a scandalous reputation of being homosexually inclusive. They also strongly imply that the authoritarian nature behind a religious institution may also have an influence on society’s attendance of churches and what they feel comfortable practicing. While the other articles have given a brief background of homosexuality within the church, Altemeyer used actual studies that can help explain the actual prejudice within the Catholic Church against homosexuals. His goal was to find how one’s religious ethnocentrism affected how they viewed homosexuali ty. He used a religious ethnocentrism scale, which demonstrates the tendency for anyone to put their own group in a â€Å"position of centrality and worthwhile creating and reinforcing negative attitudes and behaviors toward outgroups.† Within this 16 question scale, 2145 psychology students and their parents answeredShow MoreRelatedThe Plight Of Modernity And The Social Conditions Associated With Modern Forms Of Capitalism1421 Words   |  6 PagesFor these theorists, religious institutions serve important roles in understandings of how societal changes emerge. However, their understandings of how religion relates to social change are vastly different. This is the result of fundamentally different assumptions underlying their particular theories. Within Marx’ understanding of religion, ideologies of religious institutions, along with all other social institutions, are based on the economic relations found in society. Under the current economicRead MoreFamily and Religion : Influence on People Essay1602 Words   |  7 Pagesto describe their families, some would describe single-household families, some would describe stepfamilies, some would describe gay or lesbian or adoptive families and many would describe divorced families. The word family has become a diverse institution it is very difficult to give it a meaning. In a wide sense especially in the biological sciences the term family refers to a group of individual beings linked by blood relations, having a whole line of ancestors and descendants. Aristotle definesRead MoreSociological Perspectives Of Structural Functionalism1490 Words   |  6 Pagesand the effects on societies. In looking at how religion functions in social structures, social systems, and small g roup interpersonal interactions sociologists could formulate a better understanding of religion s role in society and the human experience. The sociologist looks at the individual agency, and how that connects to a specific societal location or setting. Specifically, in the case of religion a sociologist could study the power religion holds over people and societies, and the influenceRead MoreReligion As A Cultural System1601 Words   |  7 Pagesfaith participate in, and that identify them as members of a religious community, an example of this would be Ramadan, this is a period of roughly thirty days fasting which Muslims partake in yearly which is then ended by a huge celebration named Eid al-Fitr. Sociologists are not concerned with the validity of religious beliefs, rather they tend to focus on the social effect that religion has on people individually, and the institution itself. Since the beginning of human existence religion has beenRead MoreMarriage, Family, And Religion16 87 Words   |  7 Pages Marriage, Family, and Religion Omar De La Garza Texas AM International University Abstract The institutions of marriage and family are fundamental concepts to the functioning of our present day society. In this paper, marriage and family and their changes over time will be discussed. Topics such as religion, which plays an important role is the development and changes of ideas regarding these two topics will be approached as well as the social changes due to tradition and theRead MoreAbraham Lincoln And The Civil War944 Words   |  4 Pagesidentified the civil war as religious war: it is a will of God. He stated, God â€Å"gives to both North and South this terrible war as the woe†; therefore, â€Å"with firmness in the right as God gives us to see the right, let us strive on to finish the work we are in† (Lincoln). Opposite to Douglas ideas that slavery is natural, secular, and constitutional right, Lincoln asserted anti-slavery, linked to Evangelical Protestantism (Magagna). Against evolutionism, he appealed the religious morality, thoughts, andRead MoreM idterm 1 Sample Multiple Choice Questions Essay1260 Words   |  6 Pagesa free and democratic society; d) We are a caring and compassionate society; e) Both (a) and (c); 3. What can we retain from the Supreme Court ruling in Multani Singh? a) That religious freedom is absolute and employers and institutions must always make accommodations for it; b) Religious freedom is not absolute however institutions must accommodate it unless the restriction is considered a reasonable limit; c) That religious freedom is protected if the person’s religious beliefs are consistentRead MoreReligious Beliefs Affect The Medical Decision Making Of Canadians1727 Words   |  7 PagesAbstract This research project aims to explore the ways in which religious beliefs affect the medical-decision making of Canadians in Ottawa. Due to the diverse population in Canada people often practice medical plurality; which is employing biomedical and spiritual methods of healing modalities. Several Canadians have adopted informal guidelines according to their belief systems that dictate which medical healing modalities they seek when illness arises. In order to investigate the ways in whichRead MoreThe word ‘solidarity’ refers to: ‘The integration, and the degree and type of integration, shown900 Words   |  4 PagesThe word ‘solidarity’ refers to: ‘The integration, and the degree and type of integration, shown by a society or group with people and their neighbours. It refers to the ties in a society or relationships that bind people to one another.’ What forms the basis of solidarity varies between societies. Durkheim argued that solidarity is significant because it is a necessary component of a functioning civilisation and a necessary component of a fulfilling human life. Durkheim recognised two broad typesRead MoreEssay about Sociological Theory1497 Words   |  6 Pagessimplicity only the key ideals will be discussed. Functionalism looks at society as an organized structure of inter-related institutions; and the various ways these institutions interact together within a social structure. Examples of these institutions are the family, work, education and religion. The Functionalist perspective is best understood using an organismic analogy: Societies are comparable to living organisms (for example, a human being). Each part of

Symptoms Of Multiple Sclerosis And Bell s Palsy - 1347 Words

Neurological Abnormalities Jessica Schultz Brigham Young University – Idaho Neurological Abnormalities Bell’s Palsy Bell’s palsy is a condition that affects the muscles of the face. The muscles become weak and slow for an impermanent period of time. This disorder occurs when the nerve that controls the facial muscles, cranial nerve VII, becomes inflamed or swollen. The cause of the damaged is not officially known, but researchers believe that is could be the result of a viral infection. The following are some questions the nurse could ask a patient to help diagnose this condition: have you had trouble eating or drinking? have you had difficulty making facial expressions? have you experienced muscle twitches, dry eyes or a†¦show more content†¦The third factor that may play a role in the development of multiple sclerosis is that it may be brought on by a viral infection. The following are some questions the nurse could ask a patient to help diagnose this condition: have you been experiencing any vision problems? tingling or numbness? pain or unusual spasms? weakness or fatigue? balance problems? dizziness? have you had any problems with your bladder? any sexual dysfunction problems? have you experienced any other symptoms relating to your cognitive function? Multiple sclerosis shows some commonalities with Meningitis. Both disorders affect the brain and spinal cord, and can be a result of a viral infection. Similar symptoms are also seen with Multiple sclerosis and Meningitis such as, vision impairments, and a feeling of weakness or fatigue. The two disorders differ because Multiple sclerosis affects the myelin sheath on the central nervous system cells, and Meningitis specifically affects the meninges that cover the brain and spinal cord. Another difference is that Multiple sclerosis can be associated with genetics, and Meningitis is contracted from others. (June Halper and Steven Kim, 2015) Meningitis Meningitis is best described as an inflammation of the meninges in the brain. Meninges are membranes that cover and protect the brain and spinal cord. Meningitis often occurs when the fluid surrounding the meninges is infected. Meningitis is most commonly caused by viralShow MoreRelatedUnit 2 study guide8637 Words   |  35 Pagesonset is acute, characterized by mucopurulent drainage from one or both eyes. The disease often is self-limiting and resolves spontaneously in 10 to 14 days. Antibiotic eyedrops usually are effective. Viral conjunctivitis: caused by an adenovirus. Symptoms vary from mild to severe. Some strains of virus cause conjunctivitis and pharyngitis (pharyngoconjunctival fever), and others cause keratoconjunctivitis. Both diseases are contagious, with watering, redness, and photophobia. Treatment is symptomatic

Hometown Deli Free Essays

Hometown Deli Case Study The Hometown Deli was established by your grandfather in 1952 in your hometown. It offers many different kinds of specialized coffees, teas, a full service bakery, homemade soups, sandwiches, and salads. The Deli has been a local hotspot for many years and has served as a community gathering place. We will write a custom essay sample on Hometown Deli or any similar topic only for you Order Now Your grandfather recently retired from the business and has asked you to take it over. You are very excited about this opportunity! Unfortunately, business has been steadily declining over the last five years. Although your grandfather was an expert at running the deli, it is outdated. There are no computers in the store and all ordering takes place manually. Your grandfather had a terrific memory and knew all of his customers by name, but unfortunately, none of this information is located anywhere in the store. The family recipes for the baked goods and soups are also stored in your grandfather’s memory. Inventory is tracked in a note pad, along with employee payroll, and marketing coupons. The Deli does not have a Web site, uses very little marketing except word-of-mouth, and essentially still operates the same as it did in 1952. Throughout this course you will own and operate Hometown Deli, taking advantage of business practices discussed in the class, the Course Modules and the textbook to increase profits, keep the business running, and bring the Deli into the 21st century. Note: As you approach these assignments, you will find it helpful to think about your own experiences with a local deli or sandwich shop. Making a trip to a local deli may help you think about the processes, challenges, and opportunities. Upon completion of these assignments you will have performed an array of activities to demonstrate your ability to apply the course content to a â€Å"real world situation† to: †¢Analyze the business environment and identify strategic areas for improvement (Stage 1) †¢Propose an appropriate technology solution to improve a selected business process (Stage 2) †¢Evaluate various IT considerations of the proposed technology solution (Stage 3) †¢Communicate your solution and the IT considerations to stakeholders using a presentation format (Stage 4) †¢Identify and explain the next steps in implementing the solution (Stage 5) The case study and assignments address the Course Outcomes to enable you to: †¢analyze business strategy to recognize how technology solutions enable strategic outcomes †¢analyze internal and external business processes to identify information systems requirements †¢identify and plan IT solutions that meet business objec tives. STAGED ASSIGNMENTS The staged assignments are designed to follow the relevant course modules and chapters of the textbook in the class schedule, and are due on the dates shown in the Syllabus. Stage 1 Project: Business Environment Analysis (Word document with analysis) Stage 2 Project: Technology-Supported Solution Proposal (Word document with proposed solution) Stage 3 Project: Template for IT Considerations (Word table) Stage 4 Project: Executive Briefing Presentation (PowerPoint Presentation on proposed solution) Stage 5 Project: Outline of Next Steps (Word document outline with next steps) The weight of the assignments is shown in the Course Syllabus. The due dates are shown in the Course Schedule. Because these assignments require you to use Microsoft Word and PowerPoint (as indicated in the instructions), you may need to â€Å"brush up† on your familiarity with these or use functions that perhaps are new to you. Therefore, do not wait until the last minute to begin an activity. You should read through all the assignments in advance to ensure you (1) understand what is expected, and (2) allow enough time to effectively create the information being requested. Assignments for stages 1, 2 and 5 require external research, outside of the textbook. The grading rubric is included with each assignment. These assignments are designed to help you identify how to effectively analyze and interpret information to improve the business. This is an opportunity for you to apply critical thinking skills and think like a business professional. When you are writing a paper or developing a presentation, prepare it as if it is going to a boss that you want to impress with your knowledge and abilities. Don’t just go through the mechanics of pulling together information — think about what you are doing, why you’re doing it, whether it make sense, whether the information seems realistic, and what the results show. Support your recommendations with your research. One of the prerequisites for this course is that you have a fundamental working knowledge of word processing and presentation software. Detailed instructions for each Staged Project, 1 through 5, are separately posted in the Course Content area. You must prepare each assignment in the indicated format (i. e. , memo, report, presentation or other specified format) and submit it as an attachment through your individual Assignments Folder in WebTycho. No credit will be given for assignments submitted in file formats other than those stated in the assignment instructions. Additional Information There is a significant amount of information available to you to assist in developing your skills in using the Microsoft Office Products. MS Word and PowerPoint are required for these exercises. The textbook comes with access to the publisher’s website (http://www. mhhe. com/baltzan) where there are a number of resources, including Tech Plug-Ins for Office 2003, 2007 and 2010. Don’t hesitate to use the on-line help and wizard tools built into the MS Office applications for help as you work with the software tools. There are also other web sites, such aswww. eHow. com, and www. microsoft. com that provide tips. Even YouTube has some useful videos demonstrating various techniques. How to cite Hometown Deli, Papers

Financial Instrument free essay sample

Because the process of determining the exercise price is dependent upon the arithmetic average of the index of 7 particular days during 7 month with 30 days of interval, extremely volatile results due to the daily fluctuation of the market can be reasonably avoided. So, by arithmetic average, investors will be able to minimize the risks due to volatilities and seek rather stable returns as the investors of the product would be risk averters rather than risk seekers. b) Benefits to HSBC The main characteristic of Asian option is low volatility compared to other options. According to Black Scholes option pricing model, if the volatility is low, the option can also be priced lower. As HSBC needs to minimize the insurance premiums for the protection of the fund, it will try to minimize option premiums and relatively lower prices of Asian options will help HSBC remain profitable. In practice, as the option premiums for the protection of investment is usually expensive, the seller of the product write options and put the cap on investment in order to reduce the total premium expenses. By using Average index for the premium, HSBC could become more profitable as the investment will become more popular and more profitable. Question 3 Question 4. Explain how the investor pays for 100% capital protection In the product, the present value of zero coupon bond that has the face value of $100,000, interest rate 6% of per annum annually compounded, and 4. 5 years of maturity is $76,934. 9 ( 10,000/(1+0. 06)4. 5). The difference of AUD23,065. 1 between PV of zero coupon bond and initial investment will be used for the purchase of the options to guarantee the initial investment. In addition, HSBC will write the call option that will keep the maximum return up to the cap of 70% of ASX 200 index with the participation rate of 100%. In order to maintain the participation rate of 100%, approximately 21. 156 contracts of options should be traded for the initial investment of $100,000. This will be explained in detail in Question 5. As the price of the bought call option for the capital protection is $705. 2 and the price of the written call option is $40. 9, investors will have to pay $14,323. 34[21. 156 x ($705. 2 – 40. )] as the insurance premium for the 100% capital protection and maintain cap of 70% on index. In short, it can be said that the investor combines zero coupon bond and the ‘bull spread’ strategy that can be to protect 100% capital. In addition, according to the Product Disclosure Statement(â€Å"PDS†) issued by HSBC, the separate upfront fee of 2. 475% will be deducted as an Advisor fee and a fee of 0. 825% will be deduc ted as administration fee. So, the fee of $3,300 will be deducted for $100,000 invested into HSBC for the Advisory and administration service. The payoff graph of the bull spread strategy is as below; Question 5. HSBC 100+ Series Samp;P/ASX 200 Linked Investment can be decomposed into bought call, sold call and 4 ? year zero coupon bond. In practice, when constructing Equity Linked Products like this, 100% participation ratio cannot be maintained by just trading one pair of bought and sold options. For example, only $3,246. 525 will be earned when 7 months’ average ASX200 index rises up to 70% from 4,637. 893 to 7,884. 418. But, as specified in the PDS, investors should earn 7,000, a return of 70% from initial investment of $10,000. So, the ideal number of option contracts will be 2. 156(7000 / 3,246. 525) for every $10,000 investment. In other words, as the participation rate for the Equity Linked Investment will only be 46. 38%($3,246. 52 / $7,000), the option of 2. 1561 contracts should be accompanied for every $10,000 investment in order to satisfy the conditions in the PDS. Below are the payoffs of individual financial instruments. Question 6. An alternative strategy for the replicated portfolio can be made by using the combination of Samp;P/ASX 200 Exchange Traded Fund(ETF) combined with the bought put option and sold call option. In order to exactly replicate the Equity Linked products with 100% participation ratio, each set of the contract should be multiplied by 2. 1561. SPDR Samp;P/ASX 200 Fund can be used as the equity indexfund that imitating the return of ASX 200. But the problems can occur when using the alternative strategy as listed. a) When the options are priced as a form of Asian option, the price is calculated on average index. But, the price of equity index future is dependent upon daily indexes. So, the exact replication may not be possible. ) Considering the transaction costs of buying, selling options and index fund, a complicated fine tuning process is required to make similar profit as original product. Instead of investing in ASX 200 index fund, we can use synthetic forward to imitate ASX 200 index movement. We can buy a call and sell a put on the ASX200 index with same strike price and time to expiry. 7. The benefit of investor Investors who want to replicate the portfolio may try to do t he same investment. The investor can deposit 4. 5years zero coupon bond and combine bull spread(buy call option and sell call option). But, the replication may have following difficulties for the individual investor. a) Due to the characteristics of the equity index option that need daily settlement, individual investors should keep an eye on daily indexes and need to reserve enough liquidity to answer the margin call if required. Unlike investing in HSBC Samp;P/ASX 200 linked investment, investors cannot just invest and do nothing. Daily actions are needed to keep the investment going. b) In order to meet the 100% participation ratio, about 2. 156 contracts of options are needed for each $10,000 investment. As the minimum contract size is restricted to 10 in the Australian Exchange, individual investors cannot meet the planned participation ratio. To meet the same payoffs, the investment amount should be set to the multiple of $46,378( $10,000 x 10 / 2. 156) to in order to keep to the market-defined option contract requirement. Instead, if investors invest in HSBC, they will be able to invest relatively free amount of money. c) In the Australian exchange, special type of options such as Asian options are not traded. Instead, individual investors may be able to split the investment in options to 7 maturities to get the average returns, and heavy administration efforts follow for them to bear. By investing in HSBC, investors will be able to save their resources in individual wealth management. d) With the structured product from HSBC, investors can enjoy tax concession. But, if investors would try to structure the product, a complicated tax issue may appear that would need advices from tax specialists the cost of which would not be negligible for individual investors. Question 8. ) When an investor intends to hold the investment until its maturity, he(she) has to undertake some risks. * Investors could lose the gain from term deposit. Even though the fund guarantee 100% capital protection, that does not mean that investors lose nothing. The Underlying Index may depreciate as well as appreciate and the ending underlying average index level could fall below the initial index causing zero Return on t he Investment(ROI). * Even if the underlying index exceeds over the return cap of 70% at maturity, still an investor would lose return above the return cap. Compared to direct investment into index products in the bullish market, the product carries opportunity costs that are hard to carry for some risk seekers to endure. * Investors need to pay the fee of 3. 3%(Upfront fee of 2. 475% plus Administration fee of 0. 825%) which would not be needed for direct investment into market. * Counterparty risk exists to the product. As this product is not backed up by Australian Government Guarantee Scheme, in case of failure of HSBC, though it is not specified in the PDS, return from the product could be substantially lower than declared capital protection level. Early termination in respect of the investment can be declared by HSBC preceding the maturity date regardless of the investor’s will to keep the investment to maturity. And there are no safeguards against HSBC’s internal failure on fund management or operational catastrophe as management of the fund is wholly dependent on HSBC’s capacity to deal with the stated contra ct and ability to lead the daily operation. b) When an investor does not intend to hold the investment until its maturity, he(she) has to undertake some risks. Though there is no early withdrawal fee, no upfront fee is not allocated over holding period and is not returned. Investor could waste relatively heavier amount of fees in early withdrawal. * For the early withdrawal before maturity date whether in whole or in part, investor can receive less than initial investment because capital protection applies only on the Maturity Date, and not on Early Withdrawal date. * There are tax consequences on early withdrawal. Unlike withdrawal at Maturity where the capital gain that an investor makes will be eligible for concessional treatment as a discount capital gain where the relevant conditions are satisfied, early withdrawal within 12months after acquisition date will not get concessional treatment. Question 9. There are many issues that HSBC needs to consider when designing the complicated product like this. In short, the issues can be classified to product design, profitability, operational risks and counterparty risks, and marketing issues as detailed below. ) Product design issue: * The product is different from ordinary ELS that guarantees investment protection and cap level by the spot index of the maturity date that market practice because it uses the 7 months’ arithmetic average of the closing level of the Samp;P/ASX 200 index. As the options that calculate its return based on 7 months’ average are not traded in the Australian Exchange, HSBC should either divide option protecti on to 7 different maturities and trade them in ASX or make an Over-The-Counter(OTC) option with the relevant counterparty. HSBC needs to decide whether to invest in zero coupon bond and bull spread or to invest in equity index product with bought put and sold call options in order to guarantee 100% capital protection and 70% cap over Samp;P/ASX 200 index and to cope with the probable early withdrawal requests from individual investors. * Investors may be able to assume that the product is based on SPDR Samp;P/ASX200 index fund because investors’ cost base is dependent upon market value of the fund when calculating capital gain or loss according to the taxation consequences opinion issued by Mallesons Stephen Jaques which is contained in the PDS. So, it is important to operate the product in order to occur reasonable return within the pre-determined investment guideline. b) Profitability issue * In order to meet the participation rate to 100%, about 2. 156 option contracts have to be attached to the zero coupon bond of $10,000 and the costs for the purchase of the options come from the difference between present value of zero coupon bond and investor’s investment as summarized below table. Initial investment by investor| 10,000. 00| Zero coupon bond interest rate| 6% | Investment Period| 4. 0 | Present Value of the protected fund. | 7,693. 49 | Difference between PV and initial investment| 2,306. 51 | Price of Embedded option @ protection level| 705. 20 | Price of Embedded option @ cap level| -40. 90 | The number of option contract to satisfy 100% participation ratio| 2. 156 | Net option premium cost| 1,432. 33 | Adviser fee(2. 475%)| 247. 50 | Admin fee(0. 825%)| 82. 50 | Net margin from bank| 544. 17 | So, if funds a re operated as planned, HSBC would be able to get margin of 5. 4% from investors after deducting all necessary initial expenses. But the margin may not be enough for HSBC as it will still need the costs to keep the fund going(management, operational expenses, transaction costs, and more) and it should answer for the investors’ abrupt early withdrawal. Management need to keep details on the expenses. c) Operational Risk management issue * It is extremely important to build internal operation structure that would record all transaction and keep mark to market prices accurately. With the heavy amount of fund going in and out of HSBC for trading, a strict internal control system to keep the cashflow in designated circle between HSBC and counterparties should be built in advance. * Enough liquidities to meet the margin calls of holding option positions should be prepared and managed with solid outlook on economic prospects along with Samp;P/ASX 200 index. d) Counterparty issue * A s the investment in zero coupon bond with 4. 5 years of maturity is crucial in building the product structure, it is extremely important to purchase risk-free or lowest risk bonds with solid credit rating. As the bond itself is not 100% risk free asset and carries the risk of going default, during the investment period, HSBC should keep an eye on the performance of the bond and be ready to switch to alternative bonds with the same remaining maturities. * If the option trades are done over the counter, HSBC should focus some of its resources to the counterparty so that the pre-arranged contracts will be executed in timely and accurate manner. e) Marketing issue * HSBC should make sure that the marketing plan of the product is planned and executed appropriately. The success of the product is dependent upon the amount of the viable contract so that HSBC could maintain bonds and option contract as designed and keep efficient internal operational structure. * HSBC should have a set a minimum level of total investment under management and set the plan to call off all investment and return the amount back to investors in case total application amount is below feasible level. * Also HSBC should anticipate the likely maximum level of total investment to process the applications and operate the process within its capacity. Even after the fund structure is designed, the fund cannot be launched if the recent market is extraordinarily bullish and turbulent as the individual investors will believe that the market is already over the top and will not seek further return after 4. 5 years. If the market is too bearish and under recession, individual investors would lose any motivations to keep their assets for 4. 5 years. * So, HSBC should focus on touchin g investors’ desire to keep relatively safe return with the protection on invested funds when the market is relatively calm and the indexes have been stable. - [ 1 ]. An  Asian option  (or  average value  option) is a special type of  option contract. The payoff is determined by the average underlying price over some pre-set period of time. ; Asian options are thus one of the basic forms of  exotic options. Asian options are so called because they were introduced in Tokyo, Japan, in 1987, at a branch of an American bank. [ 2 ]. A bull call spread is constructed by buying a call option with a low exercise price (K), and selling another call option with a higher exercise price. Often the call with the lower exercise price will be at-the-money while the call with the higher exercise price is out-of-the-money. Both calls must have the same underlying security and expiration month. [ 3 ]. Payoff from bought call option = 7,884. 418 – 4,637. 893. [ 4 ]. The  SP/ASX 200 Index  (XJO) is recognised as the investable benchmark for the Australian equity market, it addresses the needs of investment managers to benchmark against a portfolio characterised by sufficient size and liquidity. The SP/ASX 200 is comprised of the SP/ASX 100 plus an additional 100 stocks. It forms the basis for the SP/ASX 200 Index Future and Options and the SPDR SP/ASX 200 Exchange Traded Fund (ETF). [ 5 ]. SPDR SP/ASX 200 seeks to closely match, before fees and expenses, the returns of the SP/ASX 200 Index. Its approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs. [ 6 ]. Division 115 of the Income Tax Assessment 1997 Act