ayodayo

ok i think i got it.thank you.
one last question
if you have three tranches

current OAS 20% vola OAS when vola 10% OAS when vola 30%
1 36 56 13
2 63 93 13
3 67 89 -5

can you make a judgment from this and say which one you would choose?
i a am long the security, and vola goes up, i want the price decline to be as less as possible? or how do you look at an exampel like this?