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May I ask you furthermore? Before I read the Tuckman's Chapter 7, I have known the OAS as the spread that Option cost is eliminated from the Z-spread. So in the case of the callable bond, OAS is a spread of the option-free bond and the US Treasury. But Tuckman explains the OAS as the added...

Hello, I have a question about the option-adjusted spread on Tuckman's Chapter 7, Term Structure Models. I have known OAS as the spread that the option cost is eliminated from the Z-spread. But on the Tuckman's text, OAS is introduced as the spread that makes the model price equal to the...