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.
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
Section: Chapter Questions
Problem 1PS
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