Question
Problem 3-12 Use the following corn futures quotes: Corn 5,000 bushels Contract Month Open High Low Settle Chg Open Int Mar 455.125 457.000 451.750 452.000
Problem 3-12
| Use the following corn futures quotes: |
| Corn 5,000 bushels | ||||||
| Contract Month | Open | High | Low | Settle | Chg | Open Int |
| Mar | 455.125 | 457.000 | 451.750 | 452.000 | 2.750 | 597,913 |
| May | 467.000 | 468.000 | 463.000 | 463.250 | 2.750 | 137,547 |
| July | 477.000 | 477.500 | 472.500 | 473.000 | 2.000 | 153,164 |
| Sep | 475.000 | 475.500 | 471.750 | 472.250 | 2.000 | 29,258 |
| Suppose you sell 19 of the May corn futures at the high price of the day. You close your position later when the price is 464.500. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) |
| Dollar profit | $ |
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Financial Statement Analysis & Dividend Investing
Authors: Andrew P.C.
1st Edition
1075873940, 978-1075873942
