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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Wild card option  

Definition 1.

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.
 

Definition 2.

An option associated with treasury-bond or treasury-note futures contracts that permits the short position to delay the delivery of the underlying.
 
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