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2 . Shyam took a long position in 5 lots of XYZ futures on December 5 at a price of 4 5 3 . 2

2. Shyam took a long position in 5 lots of XYZ futures on December 5 at a price of 453.20. The daily settlement prices for the futures contract are tabulated below. He squared off the position on Dec 15 at a price of 488.15. Compute the daily mark-to-market gain or loss and the final gain or loss for the long position. Lot size of futures is 1200.
Day Dec 5 Dec 8 Dec 9 Dec 10 Dec 11 Dec 12 Dec 15
Settlement Price 455.20460.75454.90452.20464.45475.20486.35

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