D. Speculator II: NOTE: you must show all of your work to receive full credit. Refer to the following Futures Quotes for the Corn Futures Market Corn Market: November 1, 2020 Price Unit: Cents and quarter-cents/bu Contract Size = 5,000 bushels MONTH 20-Dec 21-Mar 21-May OPEN 397'2 4004 4024 HIGH 400'0 404'4 406'4 LOW 394'2 399'2 4012 SETTLE 3984 4032 406'0 JLY 21 404'0 407'2 4024 407'2 21-Sep 3836 387'6 3832 387'2 3. Assume you are a speculator in the corn market. On November 1, you bought five MAR21 corn contracts at the high price traded that day. Later in the day, you sold five MAR21 corn contracts 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.) 4. Now assume that you bought five MAR21 corn contracts at the open price for the day. Later in the day, you sold five MAR21 corn contracts at the high to close your position. 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.) D. Speculator II: NOTE: you must show all of your work to receive full credit. Refer to the following Futures Quotes for the Corn Futures Market Corn Market: November 1, 2020 Price Unit: Cents and quarter-cents/bu Contract Size = 5,000 bushels MONTH 20-Dec 21-Mar 21-May OPEN 397'2 4004 4024 HIGH 400'0 404'4 406'4 LOW 394'2 399'2 4012 SETTLE 3984 4032 406'0 JLY 21 404'0 407'2 4024 407'2 21-Sep 3836 387'6 3832 387'2 3. Assume you are a speculator in the corn market. On November 1, you bought five MAR21 corn contracts at the high price traded that day. Later in the day, you sold five MAR21 corn contracts 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.) 4. Now assume that you bought five MAR21 corn contracts at the open price for the day. Later in the day, you sold five MAR21 corn contracts at the high to close your position. 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.)