A series of selections that the seller of a FUTURES contract on a US BOND can make that can increase the value of the contract. The delivery options include the quality option (ability to select a specific bond for DELIVERY), the wildcard option (ability to delay announcement of intent to deliver for a period of up to several hours), the ACCRUED INTEREST option (ability to deliver a security with a particular amount of accrued interest), and the endofmonth option (ability to use closing futures prices seven days before month end and deliver the bond at month end).
Black’s Law Online Dictionary
