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Briefly describe each these three options open to the party with a short position in...

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Finance

Briefly describe each these three options open to the party with a short position in the Treasury bond futures contract and explain the conditions under which an investor holding that short position might chose each option.

a) The ability to deliver any of a number of different bonds

b) The wild card play

c) The fact that delivery can be made any time during the delivery month

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