fundamentals of investments: 7th edition

ch 3

problem 13QP

Question 12QP

Use the following corn futures quotes for Problem: Corn 5,000 bushels Contract Month Open High Low Settle Chg Open Int Mar 455.125 451.750 May July Sep 467.000 477.000 475.000 457.000 468.000 477.500 475.500 463.000 472.500 471.750 452.000 463.250 473.000 472 250 -2.750 -2.750 -2.000 -2.000 597.913 137,547 153,164 29,258 Futures Quotations Suppose you sell 25 of the May corn futures at the high price of the day. You close your position later when the price is 465.375. Ignoring commission, what is your dollar profit on this transaction