Ultra T-Bond Futures Contract Specifications
UB · CBOT · one contract = $100,000 face
Ultra T-Bond futures (UB) trade on CBOT in 0.03125-increment ticks worth $31.25 per contract; a full 1.0-point move is $1,000.00. One contract covers $100,000 face.
Specification table
| Name | Ultra T-Bond |
| Exchange | CBOT |
| Ticker symbol | UB |
| Contract unit | $100,000 face |
| Tick size | 0.03125 |
| Tick value | $31.25 |
| Point value | $1,000.00 |
| CFTC contract code | 020604 |
| COT report families | legacy, tff |
| Quote convention | 1/32 of a point |
Worked tick math
A 10-tick move on 1 Ultra T-Bond contract (UB) is $312.50 — tick size 0.03125 × tick value $31.25. A 1-point move is 32 ticks = $1,000.00. Ten contracts moving 5 ticks = $1,562.50.
Run your own numbers: Ultra T-Bond futures calculator.
Positioning: large speculators are net short 321,350 contracts as of the 2026-07-21 COT report — full Ultra T-Bond COT data.
FAQ
- What is the tick size and value of Ultra T-Bond futures?
- Ultra T-Bond (UB, CBOT) moves in 0.03125 increments worth $31.25 per contract.
- What does one UB contract cover?
- One contract covers $100,000 face.
- How much is a full point on UB?
- $1,000.00 — tick value ÷ tick size.
Related
Ultra T-Bond COT report
Ultra T-Bond calculator
Ultra T-Bond COT history (CSV)
All contract specs
All calculators
Specs verified against exchange sources 2026-07-25; the exchange's own contract page is always authoritative. Not investment advice.