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October gold futures have just opened for trading. John buys 40 contracts from Matt. Then, John sells 20 contracts to Kate. Finally, Matt buys 20

  1. October gold futures have just opened for trading. John buys 40 contracts from Matt. Then, John sells 20 contracts to Kate. Finally, Matt buys 20 contracts from John. After these three trades:

  1. Trading volume is 80 contracts and open interest is 40 contracts.
  2. Trading volume is 80 contracts and open interest is 20 contracts.
  3. Trading volume is 40 contracts and open interest is 40 contracts.
  4. Trading volume is 60 contracts and open interest is 30 contracts.
  5. None of the above.

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