Select a CBT T-note futures (e.g., five-year T-note: FVA ; EXS to find expirations; (mathrm{FVH} 7 to load March 2017 five-year T-Note futures). On the

Select a CBT T-note futures (e.g., five-year T-note: FVA ; EXS to find expirations; \(\mathrm{FVH} 7<\) Comdty> to load March 2017 five-year T-Note futures). On the selected futures screen, type OSA to bring up the OSA screen, and select "Listed Options" on the contract from the red "Positions" dropdown tab to bring up listed futures options and then select the futures options to include in your evaluation.

Using the Bloomberg OSA screen and "Scenario Chart" tab, evaluate some of the following option strategies that would reflect a bearish position in which you expected interest rates to rise and bond prices to decrease:

a. Put Purchase.

b. Simulated Put: Long in a call and short in the futures on a 1:1 basis.

c. Bear Call Spread: Long in call with high X and short in call with low X.

d. Bear Put Spread: Long in put with high \(\mathrm{X}\) and short in put with low X.

e. Strip Purchase: Straddle purchase with additional puts (e.g., long call and long 2 puts).