[RT] 10 Yr T-Note Question

["Jason Armstrong" <jarmstrong444@xxxxxxxxxxx>]

Hi Gang,
 
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I have a question about 10 Year T-Notes that I was hoping someone out there 
might be able to answer. CBOT gives the following information on their web-site 
regarding this contract:
 


  
  
    Tick Size 
  
    One half of 1/32 of a point 
      ($15.625/contract) rounded up to the nearest cent; par is on the basis of 
      100 points

  
  
    Price Quote 
  
    Points ($1,000) and one half of 1/32 of 
      a point; i.e., 84-16 equals 84 16/32, 84-165 equals 84 
  16.5/32.
 
 
Now, if price moves from 11421 to 11422 is that 
considered two ticks or one tick? Logic tells me that would be two ticks, since 
a one half point move would be 114215. Am I correct on this? 
Happy trading,
 
Jason






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