Business buzzwords
Q1
The ..... card option is, for example for bond futures, the option to initiate delivery between 2 p.m. and 8 p.m. in the afternoon during the delivery month of the contract; the point here is that the futures price is settled at 2 p.m. but the trade in the underlying bonds goes on until 8 p.m.
(*) ace
(*) face
(*) hole
(*) wild