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Note 4 - Derivative and Other Hedging Instruments - Schedule of Derivative Positions (Details) - Short [Member] - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Five Year Treasury Note Futures [Member]    
Average contract notional amount $ 750,500 $ 369,000
Weighted average entry rate 4.20% 1.56%
Average receive rate 4.22% 1.62%
Open Equity $ (100) $ 1,013
Ten Year Ultra Future [Member]    
Average contract notional amount $ 174,500 $ 220,000
Weighted average entry rate [1] 3.66% 1.22%
Average receive rate 3.79% 1.09%
Open Equity [2] $ 965 $ (3,861)
[1] 5-Year T-Note futures contracts were valued at a price of $120.98 at December 31, 2022 and $126.16 at December 31, 2021. The contract values of the short positions were $446.4 million and $87.1 million at December 31, 2022 and December 31, 2021, respectively. 10-Year Ultra futures contracts were valued at price of $146.44 at December 31, 2022. The contract value of the short position was $322.2 million at December 31, 2022.
[2] Open equity represents the cumulative gains (losses) recorded on open futures positions from inception.