Consider the following prices, volume and open interest for gold futures contracts. Contract size: 100 oz Price units: $/oz (a) Which contract reached the highest price on this trading day? What was its contract value at that price? (b) Why is the high price equal to the low price for the contract expiring in October 2022?
Consider the following prices, volume and open interest for gold futures contracts. Contract size: 100 oz Price units: $/oz (a) Which contract reached the highest price on this trading day? What was its contract value at that price? (b) Why is the high price equal to the low price for the contract expiring in October 2022?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Consider the following prices, volume and open interest for gold futures contracts.
Contract size: 100 oz
Price units: $/oz
(a) Which contract reached the highest price on this trading day? What was its contract value at that price?
(b) Why is the high price equal to the low price for the contract expiring in October 2022?
Transcribed Image Text:Contract
Last
Change
Open
High
Low
Previous
Volume
Open Int
+ GCY00 (Cash)
+ GCQ21 (Aug '21)
+ GCU21 (Sep '21)
+ GCV21 (Oct '21)
+ GCZ21 (Dec '21)
+ GCG2 (Feb '22)
1,704.61
-58.55
1,763.20
1,763.43
1,693.69
1,763.16
388
N/A
1,708.6
-51.4
1,753.5
1,753.8
1,692.6
1,760.0
53
1,400
1,708.3
-52.0
1,762.8
1,762.8
1,690.1
1,760.3
391
1,693
1,709.0
-52.1
1,763.0
1,763.0
1,676.4
1,761.1
2,603
46,484
1,712.4
-50.7
1,765.0
1,765.7
1,677.9
1,763.1
38,976
397,639
1,713.0
-52.1
1,766.0
1,766.4
1,680.0
1,765.1
318
22,695
GCJ22 (Apr 22)
1,702.8
-64.4
1,762.8
1,763.2
1,682.4
1,767.2
155
7,769
+ GCM22 (Jun '22)
+ GCQ22 (Aug '22)
1,719.1
-49.9
1,771.0
1,771.0
1,704.3
1,769.0
39
5,509
1,710.2
-60.6
1,710.2
1,710.2
1,710.2
1,770.8
2
604
+ GCV22 (Oct '22)
1,739.1
-33.4
1,739.1
1,739.1
1,739.1
1,772.5
1
359
+ GCZ22 (Dec '22)
1,709.3
-65.0
1,774.9
1,774.9
1,703.0
1,774.3
22
1,451
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