9.

Last Low Volume 795'0 7634 83008 Chg 15'4 12'2 11'4 783'4 755'6 757'2 Month Sep 2012 Dec 2012 Mar 2013 May 2013 Jul 2013 Sep 2013 Dec 2013 783'2 Open High 780'0 7970 772'4 785'6 772'4 784'4 769'2 780'4 7632 774'0 670'0 673'0 633'0 637'0 Open Int 369243 499807 135778 21882 57618 179014 24738 8119 779'6 11'2 755'0 7734 10'6 749'0 12310 -1'6 660'0 1833 669'4 634'0 9120 54205 -10 625'0 4510 Figure 2.11 Corn futures prices in the Chicago Board of Trade, July 17, 2012 Source: The Wall Street Journal Online, July 17, 2012. Look at the futures listings for the corn contract in Figure 2.11. a. Suppose you buy one contract for July delivery. If the contract closes in July at a level of 778.14, what will your profit be? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) Profit b. How many July maturity contracts are outstanding? Outstanding contracts