Use the futures contract data in the following table to answer the question. Open High Low Settle Change Interest New Zealand dollar CME NZD 100,000; NZD/USD Sept 0.6043 0.6175 0.6025 0.6048 -0.0007 34,157 Dec 0.6128 0.6195 0.6105 0.6126 0.0004 1,569 A trader goes LONG three December NZD futures and the spot rate at maturity is 0.6138. What is the value of her position?
Use the futures contract data in the following table to answer the question. Open High Low Settle Change Interest New Zealand dollar CME NZD 100,000; NZD/USD Sept 0.6043 0.6175 0.6025 0.6048 -0.0007 34,157 Dec 0.6128 0.6195 0.6105 0.6126 0.0004 1,569 A trader goes LONG three December NZD futures and the spot rate at maturity is 0.6138. What is the value of her position?
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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Question
| Use the futures contract data in the following table to answer the question. | ||||||
| Open | High | Low | Settle | Change | Interest | |
| New Zealand dollar CME NZD 100,000; NZD/USD | ||||||
| Sept | 0.6043 | 0.6175 | 0.6025 | 0.6048 | -0.0007 | 34,157 |
| Dec | 0.6128 | 0.6195 | 0.6105 | 0.6126 | 0.0004 | 1,569 |
| A trader goes LONG three December NZD futures and the spot rate at maturity is 0.6138. | ||||||
| What is the value of her position? |
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