Math You wish to sell short. You arrange to borrow from your broker 100 shares of stock
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Math You wish to sell short. You arrange to borrow from your broker 100 shares of stock in XYZ Corporation on January 2. You immediately sell 100 shares of XYZ at $60 a share and pay a $100 commission. On April 1, you purchase 100 shares of XYZ at $53 a share to return to your broker. You pay a commission of $100. What is your return on investment for this transaction? (Hint: Use the formula in Figure 17.3.)
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Managing Your Personal Finances
ISBN: 9781305076815
7th Edition
Authors: Joan S. Ryan, Christie Ryan
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