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 - 2011-5-24 
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 - 2012-9-12 
 
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i just want to be sure I got this right  
 
a receiver swaption is essentially a:  
 
1) call (for bond prices) because when bond prices got up, interest rates go down.  
 
The reverse:  
 
a payer swaption is a:  
 
1) put (for bond prices) because when bond prices go down, interest rates go up  
 
How does that sound? |   
 
 
 
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