Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

24. You have just deposited $17,500 into a new futures account. You have established the following positions: Asset Qty Entry Price Mgn/Contract Initial Equity Tic

24. You have just deposited $17,500 into a new futures account. You have established the following positions:

Asset

Qty

Entry Price

Mgn/Contract

Initial Equity

Tic Value

Contract Unit

Cash Balance

-

-

$2,137

-

-

-

LCV20

2

107.65/cwt

$1,350

$2,700

$.025/lb=$10

40,000 lbs

CTV20

1

0.5637

$4,900

$4,900

1/100 cent = $5

50,000 lbs

HGX20

1

3.025

$7,763

$7.763

$0.25/lb=$12.50

25,000 lbs

The prices of the commodities have moved during the trading day so that COB (close of business) quotes are:

Contract

High

Low

Close

Net D

LCV20

112.525

111.025

112.525

+4.875

CTV20

0.6416

0.6416

0.6416

+0.0779

HGX20

3.116

3.025

3.110

+0.14

What is the new balance of the account when marked-to-market?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algorithmic Finance A Companion To Data Science

Authors: Christopher Hian-ann Ting

1st Edition

9811238308, 978-9811238307

More Books

Students also viewed these Finance questions

Question

What is audit documentation?

Answered: 1 week ago

Question

=+What is the brand's character or personality?

Answered: 1 week ago