The following response is based solely on the question and background information provided. As we do not have all of the facts particular to your contract, program, and situation, we highly recommend you consult your Contracting Officer and Legal Office for guidance.
No, the front page should not provide the total award value because you are not obligating the total award value. You have issued a delivery order against the contract for the basic year in the amount of $1.6M only. Delivery orders for option periods will be placed when the option year occurs if the Government has a need, which will include an obligated amount.
Important FAR references for you to read pertaining to IDIQ contracts are: FAR 16.504, particularly (a)(1) -(4) (b). FAR Clause 52.216-18 & 19 should be included in your contract, which provides more information about ordering under the IDIQ contract.
Pursuant to GAO-06-382SP Appropriations Law—Vol. II Page 7-20 GAO Principles of Federal Appropriations - "In a variable quantity contract (requirements or indefinite quantity), any required minimum purchase must be obligated when the contract is executed; subsequent obligations occur as work orders or delivery orders are placed, and are chargeable to the fiscal year in which the order is placed."