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On a particular day, the S&P ASX 200 futures settlement price was 476.27. You buy one contract at the settlement price at around the close
On a particular day, the S&P ASX 200 futures settlement price was 476.27. You buy one contract at the settlement price at around the close of the market. The next day the contract opens at 475.89, and the settlement price of the day is 475.37. Determine the value of the futures contract at the opening, an instant before the close, and after the close. Remember that the S&P ASX 200 futures contract has a $250 multiplier.
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