Wild Card Option
An option associated with treasury bond or treasury note futures contracts that permits the short position to delay the delivery of the underlying. Investopedia Says:
This provision allows the short futures contract holder to announce his or her intention to deliver the underlying securities on any notice day before a specified time, which is later than the regular trading hours, in which invoice prices are normally fixed. The security that is delivered is usually the cheapest to deliver on that specific day. Related Terms:
Cash Commodity
Cheapest to Deliver
Delivery
Differential
FAB Spread
FAN Spread
Futures Contract
Short
Treasury Bond
Treasury Note
Underlying |