Use the following corn futures quotes: Contract Month March May July September Open 455.125 467.000 Dollar profit Corn 5,000 bushels High Low Settle Change Open Interest 457.000 451.750 452.000 -2.750 597,913 468.000 463.000 463.250 -2.750 137,547 472.500 473.000 -2.000 153,164 471.750 472.250 -2.000 29,258 477.000 477.500 475.000 475.500 Suppose you buy 16 of the September corn futures contracts at the last price of the day. One month from now, the future contract is 462.250, and you close out your position. Calculate your dollar profit on this investment. Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your ans decimal places.

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
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Use the following corn futures quotes:
Contract Month
March
May
July
September
Open
455.125
467.000
477.000
475.000
Dollar profit
Corn 5,000 bushels
High
457.000
468.000
477.500
475.500
.........
Settle
Change
Low
451.750
463.000 463.250
452.000
-2.750
-2.750
472.500 473.000 -2.000
471.750 472.250 -2.000
Suppose you buy 16 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this
contract is 462.250, and you close out your position. Calculate your dollar profit on this investment.
Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2
decimal places.
Open Interest
597,913
137,547
153,164
29,258
Transcribed Image Text:Use the following corn futures quotes: Contract Month March May July September Open 455.125 467.000 477.000 475.000 Dollar profit Corn 5,000 bushels High 457.000 468.000 477.500 475.500 ......... Settle Change Low 451.750 463.000 463.250 452.000 -2.750 -2.750 472.500 473.000 -2.000 471.750 472.250 -2.000 Suppose you buy 16 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 462.250, and you close out your position. Calculate your dollar profit on this investment. Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places. Open Interest 597,913 137,547 153,164 29,258
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