Re: [RT] 10 Yr T-Note Question

["Jason Armstrong" <jarmstrong444@xxxxxxxxxxx>]

Thanks Dan, I appreciate the help.
 
Jason
<BLOCKQUOTE 
>
  ----- Original Message ----- 
  <DIV 
  >From: 
  Dan 
  Goncharoff 
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="">realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Wednesday, April 02, 2003 8:06 
  AM
  Subject: Re: [RT] 10 Yr T-Note 
  Question
  If tick size is 'one half of 1/32 of a point', then a move from 
  11421 to 11422 is two ticks.Tick size is always defined as the 
  smallest possible price increment.RegardsDanGJason 
  Armstrong wrote:
  
    
    

    Hi Gang,
     
    <FONT face=Arial 
    size=2>                
    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,
     
    JasonTo 
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