Re: Bond Options Point Value

[I4Lothian@xxxxxxx]

A bond option tick is 1/64 of a point or $15.625.  That one is easy

Now if you want confusing take a look at Ten-Year notes.  The tick value 
there is worth $15.625, but it is not 1/64.  It is in fact one half of 1/32, 
or $15.625.  Notice the use of decimals and fractions all in the same price.  
Amazing, isn't it?

That is called price as determined by a committee.

Regards,

John J. Lothian

Disclosure: Futures trading involves financial risk, lots of it!  John J. 
Lothian is the President of the Electronic Trading Division of The Price 
Futures Group, Inc., an Introducing Broker.



In a message dated 3/3/02 4:06:40 PM Central Standard Time, mr_bond@xxxxxxxxx 
writes:

<< I botice bond futures options seem to be quoted in 64ths instead of 32nds.
 Does this mean the small point value is half that of a futures contract?
 
 Thanks,
 
 David >>