Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If a client went short 5 Mar crude @ $50.00 and closed his position @ $53.00 Contract Name: Crude oil mar contract Contract Size: 1000
If a client went short 5 Mar crude @ $50.00 and closed his position @ $53.00
Contract Name: Crude oil mar contract
Contract Size: 1000 barrels
Minimum price increment: $0.01
Margin Requirement: $5000
Current price: $50 per barrel
a.
Loss $3,000
b.
Loss $15,000
c.
Profit $15,000
d.
Profit $3,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started