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IRU9 is the 90-day Bank Bill Futures maturing in mid-September 2019. The table below, which shows the market observed quoted prices of IRU9 for several days in July 2019, is relevant to answer questions (23) to (25). Date Quoted price 15/07/2019 98.88 12/07/2019 11/07/2019 10/07/2019 09/07/2019 08/07/2019 05/07/2019 98.88 98.89 98.88 98.89 98.89 98.91 04/07/2019 03/07/2019 98.92 98.93 Source: Bloomberg Sammy short the IRU9 on 3 July 2019 and closed it on 15 July 2019 as planned. What was his realized gain/loss from closing out the IRU9? O A loss of roughly $123 O A gain of roughly $16 A gain of roughly $500 A gain of roughly $123 O A loss of roughly $500

IRU9 is the 90-day Bank Bill Futures maturing in mid-September 2019. The table below, which shows the market observed quoted prices of IRU9 for several days in July 2019, is relevant to answer questions (23) to (25). Date Quoted price 15/07/2019 98.88 12/07/2019 11/07/2019 10/07/2019 09/07/2019 08/07/2019 05/07/2019 98.88 98.89 98.88 98.89 98.89 98.91 04/07/2019 03/07/2019 98.92 98.93 Source: Bloomberg Sammy short the IRU9 on 3 July 2019 and closed it on 15 July 2019 as planned. What was his realized gain/loss from closing out the IRU9? O A loss of roughly $123 O A gain of roughly $16 A gain of roughly $500 A gain of roughly $123 O A loss of roughly $500

Essentials Of Investments
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
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IRU9 is the 90-day Bank Bill Futures maturing in mid-September 2019. The table below, which shows the market observed quoted prices of IRU9 for several days in July 2019, is relevant to answer questions (23) to (25). Date Quoted price 15/07/2019 12/07/2019 11/07/2019 10/07/2019 98.88 98.88 98.89 98.88 09/07/2019 08/07/2019 05/07/2019 98.89 98.89 98.91 04/07/ 03/07/2019 98. 98.93 Source: Bloomberg Sammy short the IRU9 on 3 July 2019 and closed it on 15 July 2019 as planned. What was his realized gain/loss from closing out the IRU9? A loss of roughly $123 A gain of roughly $16 A gain of roughly $500 A gain of roughly $123 A loss of roughly $500
Transcribed Image Text:IRU9 is the 90-day Bank Bill Futures maturing in mid-September 2019. The table below, which shows the market observed quoted prices of IRU9 for several days in July 2019, is relevant to answer questions (23) to (25). Date Quoted price 15/07/2019 12/07/2019 11/07/2019 10/07/2019 98.88 98.88 98.89 98.88 09/07/2019 08/07/2019 05/07/2019 98.89 98.89 98.91 04/07/ 03/07/2019 98. 98.93 Source: Bloomberg Sammy short the IRU9 on 3 July 2019 and closed it on 15 July 2019 as planned. What was his realized gain/loss from closing out the IRU9? A loss of roughly $123 A gain of roughly $16 A gain of roughly $500 A gain of roughly $123 A loss of roughly $500
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