Dumb Q for eurodollar futures traders

quote is 97.00 and the specification states that the change in $ is $25.00 per basis point. A few ticks later the quote is 96.50...for a short does the account increase by $12,500 if you're exposed to 10 contracts?

thanks

 

A move from 97.00 to 96.50 would represent a gain of $1250 per short contract, but why do you describe the move from 97.00 to 96.50 as 'a few ticks'? It's 50 ticks from 97.00 to 96.50. Also, doesn't the near month move in 1/4 tick increments (i.e. 0.0025)?

 

It's Bp Change * $/bp * contracts. In your case, this means 50bps * $25/bp * 10 = $12,500, in fact.