PA
Experience: Intermediate
Platform: NT
Trading: ES
Posts: 27 since Jul 2010
Thanks Given: 265
Thanks Received: 37
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For ZB (30 Year US Bond), prices are quoted in 32nds of a point. So, a price of 128-17/32 (or just 128-17) would be the decimal equivalent of 128.53125. The value of one full point is $1000, so a move from 128-00 to 128-17 would be $531.25.
For ZN (10 Year Note), prices are quoted in 32nds and halves of 32nds. So, a price of 126-19 1/2 would be the decimal equivalent of 126.609375. The value of one full point is $1000, so a move from 126-00 to 126-19 1/2 would be $609.38.
In your example, a price change in ZN of .25 would be 8/32, or $250.00.
For ZT, (2 Year Note), prices are 32nds and quarters of 32nds. So, a price of 109-14 1/4 (or 109-142) would be the decimal equivalent of 109.4453125. The value of one full point is $2000, so a move from 109-00 to 109-14 1/4 would be $890.63.
In your example, a price change in ZT of .0469 would be 1.5/32, or $$93.75.
[Hopefully I got all the math right!]
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