Wild card option

Wild card option

The right of the seller of a Treasury bond futures contract to give notice of intent to deliver at or before 8:00 p.m. Chicago time after the closing of the exchange (3:15 p.m. Chicago time) when the futures settlement price has been fixed. Related: Timing option.

Wild Card Option

The ability for the seller of a futures contract on a Treasury note or Treasury bond to give notice of delivery for a certain period of time after the exchange on which the contract was trading has already closed for the days. This gives the seller the ability to deliver the cheapest to deliver issue. See also: Wild Card Play.
References in periodicals archive ?
A year later, at the World Cup in Italy, and still only a Second Division player, Bull became England's wild card option in the squad.
This season, Gatland can only pick two "captured" players utilising his wild card option and he already has two players who fit into that category in Jamie Roberts and Rhys Priestland.
Michael Owen is the wild card option but Capello is right to silence the debate about the former Newcastle United man.
Of course, another wild card option would be starting on the wing with scrum-half Lloyd Williams, who has already made a huge impact in the position during this World Cup with his cross-kicking cameo against England.
There is of course, the wild card option of Iestyn Harris, who has had his moments in the championship and offers real creativity.
For in the wake of the sad death last weekend of Darren Clarke's wife Heather, Woosnam's wild card options have been made more complicated.