10-Year T-Note Futures Contract Specs http://www.cmegroup.com/trading/int...us-treasury-note_contract_specifications.html
If you're using the word "options" in the trading sense, you could trade options on the CME interest rate futures (incl. 10 year, 5 year, 30 year, etc). If you're using the word "options" in a generic sense, then you have many different choices: -10 year futures (outright positions) symbol ZN I believe -Futures spreads -IEF (7-10 year treasury ETF) -Options on IEF or the 10 year futrues If rates go up, that means bond prices go down, so you would short ZN or IEF. If you use options as a trading vehicle, then you would buy puts on ZN or IEF
Thank you, 1245 and clacy. Clacy the extra input is appreciated. Basically what I would like to do is hedge a mortgage, we were locked in when the 10 year note was approx. 2.50, its dropped dramatically since then, just trying to find the best vehicle to take advantage of any upside from the 10 year note while it is currently at 1.95.