Use the following corn futures quotes: Contract Month March May July September a. How many of the July contracts are currently open? Contracts Corn 5,000 bushels High Low Change -2.750 Open Settle 455.125 457.000 451.750 452.000 467.000 468.000 463.000 463.250 477.000 477.500 472.500 473.000 -2.000 475.000 475.500 471.750 472.250 -2.000 -2.750 Contracts 29,258 Open Interest 597,913 137,547 153,164 29,258 b. How many of these contracts should you sell if you wish to deliver 125,000 bushels of corn in July? c. If you actually make delivery, how much will you receive? Assume you locked in the settle price. Note: Do not round intermediate calculations. Round your answer to the nearest whole number.
Use the following corn futures quotes: Contract Month March May July September a. How many of the July contracts are currently open? Contracts Corn 5,000 bushels High Low Change -2.750 Open Settle 455.125 457.000 451.750 452.000 467.000 468.000 463.000 463.250 477.000 477.500 472.500 473.000 -2.000 475.000 475.500 471.750 472.250 -2.000 -2.750 Contracts 29,258 Open Interest 597,913 137,547 153,164 29,258 b. How many of these contracts should you sell if you wish to deliver 125,000 bushels of corn in July? c. If you actually make delivery, how much will you receive? Assume you locked in the settle price. Note: Do not round intermediate calculations. Round your answer to the nearest whole number.
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
Related questions
Question
Please help me.
f
Transcribed Image Text:Use the following corn futures quotes:
Contract Month
March
May
July
September
a. How many of the July contracts are currently open?
Contracts
Corn 5,000 bushels
High
Low
Change
-2.750
Open
Settle
455.125 457.000 451.750 452.000
467.000 468.000 463.000 463.250 -2.750
477.000 477.500 472.500 473.000 -2.000
475.000 475.500 471.750 472.250 -2.000
Contracts
29,258
Price
Open Interest
597,913
137,547
b. How many of these contracts should you sell if you wish to deliver 125,000 bushels of corn in July?
153,164
29,258
c. If you actually make delivery, how much will you receive? Assume you locked in the settle price.
Note: Do not round intermediate calculations. Round your answer to the nearest whole number.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education