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Delivery Options

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Delivery options
The options available to the seller of an interest rate futures contract, including the quality option, the timing option, and the wild card option. Delivery options mean that the buyer is uncertain of which Treasury bond will be delivered or when it will be delivered.
Delivery Option
In some futures contract, the right of the seller to determine where and how the underlying asset will be delivered when the contract expires. It also gives the seller some leeway in the quality of the underlying asset to be delivered. The seller informs the buyer of these details.
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