Hello -

Does anyone have experience manipulating "bond pricing" in ticks? I found this link that helped turn "ticks" into "bips", but nothing that allows a user to add or subtract figures in "tick" form.

__Example #1__

Bond A: 84-12

Bond B: 84-22

B vs. A spread would be positive 0-10 ticks.

As some might know, ticks go up to 32 in the "tail" (the numbers right of -), before increasing the handle (known as points).

__Example #2:__

Bond C: 85-28

Bond D: 86-02

D vs C spread would be positive 0-06

Only other caveat, is the tail can have a "+" at the end, which means adding 1/2 tick to tail.

0-05+ would be (5.5/32) to get the decimal, but when adding/subtracting in tick form, it gets a little bit more complicated.

__Example #3:__

Bond E: 81-03

Bond F: 81-05+

F vs E spread would be 0-02+