The table below details Eagle's trade and market value calculations for opens and terminations of CDX using par-based prices, including gains and losses due to price movements. This is based on Data Management signage. Open Sell ProtectionCash Direction | Price | Cost Basis | Market Value | Close Sell Protection | Value at Open --> Value at Close: Gain or Loss |
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Receive Fee &
Pay Traded Interest | Price < 100 | Long, Receive Fee to Open Cost = Negative | Price < 100 Negative MV
As price decreases, value goes down | Pay Fee to Close Receive Traded Interest | 95 --> 90: Loss 90 --> 95: Gain | Pay Fee &
Pay Traded Interest | Price > 100 | Long, Pay Fee to Open Cost = Positive | Price > 100 Positive MV
As price increases, value goes up | Receive Fee to Close Receive Traded Interest | 105 --> 110: Gain 110 --> 105: Loss |
Open Buy Protection
Cash Direction | Price | Cost Basis | Market Value | Close |
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