I have no books with me… Can you confirm the followig statetments: A cap is a package of LONG interest rate calls OR LONG put on bond A floor is a package of LONG interest rate puts OR LONG call on bond Thanks… I was thinking this on the train on my way to London

You are correct!

Ok so it’s always long… Just making the right combinations between calls and puts?

Yup! I thought you were done, what happened??

Yeah… I’m trying to disconnect but that question got stock in my head… I’m about to have a nice cold beer… That’ll help me relax… Actually I might have two and it’s bed time. @ 10 Good luck tomorrow!!!