Use the following corn futures quotes (priced in cents): Corn 5,000 bushels Contract Month Mar May July Sep High Low Settle Chg Open Open Int 455.125 457.000 451.750 452.000 -2.750 597,913 467.000 468.000 463.000 463.250 -2.750 137,547 477.000 477.500 472.500 473.000 -2.000 153,164 475.000 475.500 471.750 472.250 -2.000 29,258 Suppose you sell 17 of the May corn futures at the high price of the day! You close your position later whe 464.625. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate Round your answer to 2 decimal places.)
Use the following corn futures quotes (priced in cents): Corn 5,000 bushels Contract Month Mar May July Sep High Low Settle Chg Open Open Int 455.125 457.000 451.750 452.000 -2.750 597,913 467.000 468.000 463.000 463.250 -2.750 137,547 477.000 477.500 472.500 473.000 -2.000 153,164 475.000 475.500 471.750 472.250 -2.000 29,258 Suppose you sell 17 of the May corn futures at the high price of the day! You close your position later whe 464.625. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate Round your answer to 2 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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Transcribed Image Text:Use the following corn futures quotes (priced in cents):
Contract
Month
Mar
May
July
Sep
Corn 5,000 bushels
Dollar profit
Low
Open Int
Open
High
Settle Chg
455.125 457.000 451.750 452.000 -2.750 597,913
467.000 468.000 463.000 463.250 -2.750 137,547
477.000 477.500 472.500 473.000 -2.000 153, 164
475.000 475.500 471.750 472.250 -2.000 29,258
Suppose you sell 17 of the May corn futures at the high price of the day. You close your position later when the price is
464.625. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations.
Round your answer to 2 decimal places.)
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