All Bonds created " Equal " ??

M

md2324

Assuming the following :

Lets say that the...... ZB, ZN, ZF and ZT all moved from 151.00 to 151.33

Would the REAL Profit made from this move, be the following for the 4 Financial Markets:

The Profit on ZB , ZN and ZF would = $310 ( $1,000 Point Values x .33 cent move ) ?

And the Profit on ZT would be = $620 ( $2,000 Point Value x .33 cents ) ?

Thanks much for the help
 
151-105 which is between 151-10 and 151-11 is equivilant to 151.33

Where .33 x 32 is about 10.5 or 105 is a third of the way to $1000 or $333
32 ticks at $31.25/per is $1000 ( some move in half and quarter ticks confusing the quotes).

So yup , you are right and yeah $2000 a point for ZT but dont hold your breath.
 
eurusdzn,
Thank you for your reply

I just please, want to double check that I am calculating the P&L for the 4 different Bond markets correctly ................. 1. The Profit on ZB , ZN and ZF would = $310 ( $1,000 Point Values x .33 cent move ) ?

2. And the Profit on ZT would be = $620 ( $2,000 Point Value x .33 cents ) ?


Thank you again for your help

eurusdzn said:
151-105 which is between 151-10 and 151-11 is equivilant to 151.33

Where .33 x 32 is about 10.5 or 105 is a third of the way to $1000 or $333
32 ticks at $31.25/per is $1000 ( some move in half and quarter ticks confusing the quotes).

So yup , you are right and yeah $2000 a point for ZT but dont hold your breath.
More...
 
ZNM17 current price is 125-075 so this is 15 ticks above 125-000. This equates to 15/64 (64 ticks/point) = .23
So 125.23 in decimal format. .23*1000 = $230 profit on the notional 100k if you entered at 125.00.

So, yes you are correct , roughly . Your decimal quote moves in units of .01 where ZT moves in
128 ticks between say 125-000 and 126-000. It increments as 125-000 , 125-002, 125-005,
125-007, 125-010, 125-012 ,125-015 ........

1/128 = .0078 increments. For ZT
1/64 for ZN
I haven't traded ZB as the daily $$$ change exceeds my position size comfort level.
I never traded ZF,the 5 year.

Where are you receiving note/ bond quotes in decimal format ? Why not the exhange/broker quoting method.
 
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The point values for ZB, ZN, and ZF are the same. The tic values (minimal price movement differential) are different for each - please look on the CME website for the contract specs. The point value for ZT is different because the notional value of the instrument is $200K and not $100K.

Again, the contract specs on the exchange website will tell you everything you require.
 
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