I suggest you have a certain understanding of the relevant futures, otherwise it is difficult to explain clearly to you: Eurodollar futures actually belong to the category of interest rate futures, and the quotation method of interest rate futures in financial markets is 100 minus last year's interest rate (the so-called annualized interest rate is to convert the rate of return for a certain period of time into an adult rate of return). The settlement of interest rate futures is as follows: contract size *[ 100-( 100- interest rate futures quotation) * period measured in years ]/ 100, because each base point of interest rate futures is 0.0 1 0/Yes.

If you know the above situation, the statement in the tutorial should be easy to understand, which simplifies many calculation processes and only says one final result. The so-called minimum change value of options is a result obtained by substituting that minimum change value into the settlement process of interest rate futures.