The Expiration Value is the annual seasonally adjusted U.S. trade balance (goods and services) for 2026, as reported in the FT-900 release covering December 2026.
If US trade deficit for 2026 is between 45 billion and 54.9 billion, then the market resolves to Yes.
If US trade deficit for 2026 is between 55 billion and 64.9 billion, then the market resolves to Yes.
If US trade deficit for 2026 is between 65 billion and 74.9 billion, then the market resolves to Yes.
If US trade deficit for 2026 is between 75 billion and 84.9 billion, then the market resolves to Yes.