1. Futures contract. On Monday morning, an investor takes a long position in a pound futures contract that matures on Wednesday afternoon. The agreed-upon price is $1.78 for 62,500. - At the close of trading on Monday, the futures price has risen to $1.79. - At Tuesday close, the price rises further to $1.80. - At Wednesday close, the price falls to $1.785, and the contract matures. The investor takes delivery of the pounds at the prevailing price of $1.785. 1. Futures contract. On Monday morning, an investor takes a long position in a pound futures contract that matures on Wednesday afternoon. The agreed-upon price is $1.78 for 62,500. - At the close of trading on Monday, the futures price has risen to $1.79. - At Tuesday close, the price rises further to $1.80. - At Wednesday close, the price falls to $1.785, and the contract matures. The investor takes delivery of the pounds at the prevailing price of $1.785