U.S. Treasury 10-Year Note Futures & Options
Long Term "Ultra" T-Bond Futures
U.S. Treasury 10-Year Note Futures and Options
Flexible Options on U.S. Treasury Futures
Understanding U.S. Treasury Futures
10-Year U.S. Treasury Note Futures (T Note)
One U.S. Treasury note having a face value at maturity of $100,000.
U.S. Treasury notes with a remaining term to maturity of at least six and a half years, but not more than 10 years, from the first day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered note ($1 par value) to yield 6 percent.
Price Quote Points ($1,000) and halves of 1/32 of a point. For example, 126-16 represents 126 16/32 and 126-165 represents 126 16.5/32. Par is on the basis of 100 points.
One-half of one thirty-second (1/32) of one point ($15.625, rounded up to the nearest cent per contract), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).