ZNH8 first notice day: February 29, 2028

The date that matters on ZNH8

The first notice day of ZNH8 is February 29, 2028, the last business day of the month preceding delivery. From that day a long position can be assigned a deliverable note or bond.

This is the first notice day, not the last trading day. A Treasury future keeps quoting into its delivery month, and its official last trading day depends on the maturity. Senzoukria does not use it, because by the first notice day the open interest has already moved to the next contract and a long held past it is deliverable.

Senzoukria stops offering ZNH8 as the default contract on February 25, 2028, 4 calendar days before that first notice day, and keeps it selectable with a badge. The date is computed from the exchange rule rather than stored. The engine counts Monday to Friday and holds no CME holiday table, so a date that falls next to a public holiday can be one day off the exchange calendar. Check the exchange calendar when the date sits close to a holiday.

When the volume actually leaves

Treasury futures roll around the first notice day, and the bulk of open interest moves during the few sessions that precede it. Holding past it exposes a long to delivery of an actual note or bond, which is not what a chart trader wants.

For ZNH8 the next listed delivery is ZNM8, whose first notice day is May 31, 2028. That is the contract the volume moves into.

What one tick is worth on ZNH8

The minimum price fluctuation is 0.015625, which is $15.63 per contract on a multiplier of 1000. A full point is therefore $1,000.00. On a footprint chart one row is one tick, so the same vertical space holds a different number of rows depending on the product: a tick of 0.015625 sets how finely the bid and ask volume of ZN can be read.

These are the values the app itself trades on, taken from its contract table rather than retyped, so the P&L shown on a ZNH8 position and the rows of its footprint come from the same numbers.

Every ZN delivery listed in 2028

ZN lists 4 delivery months a year (H, M, U, Z). ZNH8 is number 1 of 4 in 2028.