c. Speculator I: (you must show all of your work to receive full credit) Refer to the following Futures Quotes for the Natural Gas Futures Market Natural Gas Market: November 3, 2021 U.S. dollars and cents per MMBtu Contract Size = 10,000 MMBtu MONTH LAST OPEN HIGH LOW Dec-21 $5.855 $5.553 $5.865 $5.465 Jan-22 $5.960 $5.645 $5.967 $5.570 Feb-22 $5.828 $5.518 $5.833 $5.451 Mar-22 $5.451 $5.215 $5.462 $5.139 Apr-22 $4.159 $4.049 $4.160 $4.002 Natural Gas Market: November 9, 2021 U.S. dollars and cents per MMBtu Contract Size = 10,000 MMBtu MONTH LAST OPEN HIGH LOW Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 $4.973 $5.066 $4.961 $4.696 $3.960 $5.410 $5.487 $5.368 $5.024 $4.057 $5.467 $5.540 $5.398 $5.051 $4.103 $4.912 $5.004 $4.902 $4.632 $3.853 1. Assume you are a speculator in the natural gas market. On November 3, you sold 20 FEB22 natural gas contracts at the open price traded that day. On November 9, you bought 20 FEB22 at the low price of the day. Assume there was a $20 broker fee to execute the round-turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.) 2. Now assume that on November 3, you bought 30 FEB22 natural gas contracts at the low price traded that day. On November 9, you sold 30 FEB22 at the high price of the day. Assume there was a $20 broker fee to execute the round-turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.) c. Speculator I: (you must show all of your work to receive full credit) Refer to the following Futures Quotes for the Natural Gas Futures Market Natural Gas Market: November 3, 2021 U.S. dollars and cents per MMBtu Contract Size = 10,000 MMBtu MONTH LAST OPEN HIGH LOW Dec-21 $5.855 $5.553 $5.865 $5.465 Jan-22 $5.960 $5.645 $5.967 $5.570 Feb-22 $5.828 $5.518 $5.833 $5.451 Mar-22 $5.451 $5.215 $5.462 $5.139 Apr-22 $4.159 $4.049 $4.160 $4.002 Natural Gas Market: November 9, 2021 U.S. dollars and cents per MMBtu Contract Size = 10,000 MMBtu MONTH LAST OPEN HIGH LOW Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 $4.973 $5.066 $4.961 $4.696 $3.960 $5.410 $5.487 $5.368 $5.024 $4.057 $5.467 $5.540 $5.398 $5.051 $4.103 $4.912 $5.004 $4.902 $4.632 $3.853 1. Assume you are a speculator in the natural gas market. On November 3, you sold 20 FEB22 natural gas contracts at the open price traded that day. On November 9, you bought 20 FEB22 at the low price of the day. Assume there was a $20 broker fee to execute the round-turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.) 2. Now assume that on November 3, you bought 30 FEB22 natural gas contracts at the low price traded that day. On November 9, you sold 30 FEB22 at the high price of the day. Assume there was a $20 broker fee to execute the round-turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.)