Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer all. Suppose Sammy decides to short 5 December 2022 South African Rand futures contracts. His quote when he initiates the trade is 05517.
Please answer all.
Suppose Sammy decides to short 5 December 2022 South African Rand futures contracts. His quote when he initiates the trade is 05517. He decides to close his position 3 weeks later at a quote of .06334. What is his total dollar profit or loss? A. Profit of $13,725 B. Gain of $1,324.45 C. Loss of $13,725 D. Loss of $20,425 What is the contract size of a micro E-mini S\&P 500 index future contract? A. $5 times the index value B. $50 times the index value C. $500 times the index value D. $100 times the index value Financial futures are futures contracts that work very similarly to a futures contract on corn but instead of having an agricultural commodity as the underlying asset, it has what? A. An energy product B. A financial instrument C. Cash D. It can have anything as the underlying commodity
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