Suppose you sell 25 of the May corn futures at the high price of the day. You

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Suppose you sell 25 of the May corn futures at the high price of the day. You close your position later when the price is 465.375. Ignoring commission, what is your dollar profit on this transaction?

Use the following corn futures quotes

Corn 5,000 bushels Contract Month High Open Int Open Low Settle Chg Mar 597,913 455.125 457.000 451.750 452.000 -2.750 M

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Fundamentals of Investments, Valuation and Management

ISBN: 978-1259720697

8th edition

Authors: Bradford Jordan, Thomas Miller, Steve Dolvin

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Question Posted: Nov 15, 2018 04:52 AM

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Suppose you sell 25 of the May corn futures at the high price of the day. You

Question:

Corn 5,000 bushels Contract Month High Open Int Open Low Settle Chg Mar 597,913 455.125 457.000 451.750 452.000 -2.750 May 137,547 467.000 468.000 463.000 463.250 -2.750 July 153,164 477.000 477.500 472.500 473.000 -2.000 471.750 29,258 Sep 475.000 475.500 472.250 -2.000

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