Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 14 Use the following corn futures quotes: Corn 5,000 bushels Contract Month Open High Low Mar 455.125 457.000 451.750 May 467.000 468.000 463.000 July

image text in transcribed
QUESTION 14 Use the following corn futures quotes: Corn 5,000 bushels Contract Month Open High Low Mar 455.125 457.000 451.750 May 467.000 468.000 463.000 July 477.000 477.500 472.500 Sep 475.000 475.500 471.750 Settle 452.000 463.250 473.000 472.250 Chg -2.750 -2.750 -2.000 -2.000 Open Int 597,913 137.547 153, 164 29,258 Suppose you sell 35 of the May corn futures at the high price of the day. You close your position later when the price is 476.375. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations. Round your answer to 2 decimal places and enter negative with a "minus)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ebay Tips And Tricks To Increase Your Ebay Sales

Authors: Jessica Wilson

1st Edition

1774854015, 978-1774854013

More Books

Students also viewed these Finance questions

Question

Explain the alkaline nature of aqueous solution of making soda.

Answered: 1 week ago

Question

Comment on the pH value of lattice solutions of salts.

Answered: 1 week ago