I'll start w/the goal: I'd like to profit if US long term treasury rates rise substantially sometime in the next 10 years. The plan: To buy long-dated (5 to 10 years), well out-of-the-money puts on Treasury futures. Current 10 year rates are about 3.7%. I'd like to buy a put that would be in-the-money should rates rise 300 basis points. I am not an options trader, but have traded stocks and futures for years. As I understand it, options on 10 year Treasuries are only available going out a couple of years at most. Once you go out that far, volumes are slim and prices/spreads are very expensive. Are there trading desks out there that would create such an option over the counter for a retail investor? Is there a way to synthetically create such an option using exchange-traded products? Thanks for any input.