Amber McClain. Amber McClain, the currency speculator we met in the chapter, sells eight June futures contracts

Question:

Amber McClain. Amber McClain, the currency speculator we met in the chapter, sells eight June futures contracts for 500,000 pesos at the closing price quoted in Exhibit 7.1.

a. What is the value of her position at maturity if the ending spot rate is $0.12000/Ps?

b. What is the value of her position at maturity if the ending spot rate is $0.09800/Ps?

c. What is the value of her position at maturity if the ending spot rate is $0.11000/Ps?

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