Refer to the Mini-S&P contract in Figure 221. Assume the closing price for this day o. If the margin requirement is 11% of the futures price times the contract multiplier of $50, how much must you deposit with your broker to trade the March maturity contract? (Round your answer to the nearest whole dollar) Required margin deposit b. If the March futures price increases to 2598.00, what percentage return will you earn on your investment if you entered the long side of the contract at the price shown in the figure? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Percentage return on niet investment c. If the March futures price falls by 1%, what is your percentage return? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) Percentage return on net investment % 1.15 May Futures Contracts | WSJ.com/commodities Contract Open Open High hilo low Metal & Petroleum Futures Settle Chg interest Contract Open Coffee (ICE-US) 37,500 lbs., cents per Ib. Open High hilo low Settle Chg interest March 101.50 103.45 A 101.15 102.75 127,138 Copper-High (CMX) 25,000 lbs: Sperib. May 104.40 106.55 A 104.30 105.75 1.10 60,630 Jan 2.6445 2.6460 2.6410 2.6410 -0.0105 Sugar-World (ICE-US)-112,000 lbs: cents per Ib. 1,756 March 2.6500 26595 2.6315 2.6370 -0.0105 March 11.95 12.67 A 11.94 138,638 12.65 .72 389,965 Gold (CMX-100 troy oz: $ per troy oz. 12.04 12.73 A 12.03 12.72 70 188,201 Jan 1284.90 1286.80 Sugar-Domestic (ICE-US)-112,000 lbs., cents per lb. 4.10 353 Feb 1287.00 1297.00 25.40 March 25.40 A 25.34 1284.10 1289.90 4.10 25.40 04 2,718 302,111 June 1298.90 1309.00 1298.50 1302.90 May 25.50 4.20 25.54 A 25,50 43,689 25.50 .01 2,455 Aug 1310.00 1315.10 1307.80 1309.00 4.10 10,837 Cotton (ICE-US) 50,000 lbs., cents per ib. Dec 1317,60 1325.80 1317.60 1321.50 4.10 9,830 March 72.52 73.92 72.48 72.75 23 126,870 Feb 20 1327.90 1331.00 1327.30 1327.70 4.20 May 3,090 73.99 75.23 A 73.92 74.10 .16 39,088 Palladium (NYM) 50 voy oz: S per troy oz. Orange Juice (ICE-US) 15,000 lbs, cents per ib. March 1242.40 1249.40 A 1230.80 1240.20 5.80 Jan 121.20 122.00 24,797 121.15 121.95 65 582 June 1226.20 1231.90 1216.10 1224.30 4.70 12375 124.80 March 3,313 122.85 123.85 55 14,103 Platinum (NYM)-50 troy oz: per troy oz Jan 824.20 82540 A 821.00 18.40 Interest Rate Futures -3.60 261 Apell 827.20 836,50 A 823.30 824.30 -2.90 85.951 Treasury Bonds (CBT) $100,000; pts 32nds of 100% Silver (CMX-5,000 troy oz: 5 per troy oz. March 146-230 147-170 146-040 146-160 -12.0 949992 Jan 146-160 146-190 15.750 15.750 15.750 June 15.669-0026 145 300 820 145-270 -13.0 51 March 15.800 15.880 15.680 15.756-0030 142,916 Treasury Notes (CET) S100,000; pts 32nds of 100% Crude Oil, Light Sweet NYM-1,000 bbls. 5 per bbl March 122-060 122-150 121-290 122-015 -8.0 4.102,583 June 122-150 122-240 122-065 Feb 122-105 48.22 48.52 2418 49.79 48.11 0.56 -7.5 367400 March 48.49 50.11 A 48.44 48.82 0.54 319,791 5 Yr. Treasury Notes (CBT)-S100,000; pts 32nds of 100% Apell 48.89 50.47 48.80 0.52 136,259 March 114 215 114 280 114-155 114-187 -5.5 4,590,715 May 4932 50.90 A 49.32 49.60 0.50 115,849 2 Yt. Treasury Notes (CBT)-$200,000, pls 32nd of 100% June 49.79 5133 A 49.72 50.04 0.48 229.259 March 106045 106-065 106010106-025 -2.7 2,552998 Dec 5132 52.77 A 51.30 51,48 0.40 191908 30 Day Federal Funds (CBT) 55,000,000, 100 daily svg NY Harbor ULSD (NYM)-42,000 gol, Spergal. Jan 97.600 97.600 97.598 97.598 -002 317,562 Feb 1.777518245 A 1.7764 1.7784 0092 109,341 April 97.605 97.615 97.600 97,605 005 310713 March 1.7691 1.8160 A 1.7690 1.7714 0104 73,598 10 Yr. Del. Int. Rate Swaps (CRT) $100,000; pts 32nds of 100% Gasoline NY RBOB (NYM)-42,000 gal: per gal, March 102.766 102.797 102.297 102.391 -219 27.939 Feb 1.3585 13945 1.3389 1.3400 -.0070 120356 1 Month Libor (CME) $3,000,000; pts of 100% March 13716 1.4080 1.3524 1.3541-0077 88,591 Jan 97.4875 .0075 535 Natural Gas (NYM) 10,000 MMB: 5 per MMBL. Eurodollar (CME) $1,000,000; pts of 100% Feb 2932 2.994 2.910 2.944 174.258 Jan 97.2300 97.2375 97.2250 97.2300 0050 268.33 March 2812 2.886 2.793 2.847 -058 270,970 March 97.2850 97.3150 92.2850 973000 0050 1420 121 April 2650 2.708 2640 2.677 011 148,613 June 973050 97.3450 97.2900 973150 -1.252,674 May 2637 2.687 2.625 2.662 002 132 A74 Dec 97.3650974100 97.3250 973550-0250 1.740,407 July 2.718 2765 2.708 2.746 - 007 62540 2.710 2598 2.751 -016 105445 Currency Futures Japanese Yen (CME) 12,500,000-5 per 100% Agriculture Futures 9220 Jan 9257 9211 1,190 9213-.OOOR Corn (CBT) 5,000 bucents per bu March 9272 9310 222,921 9247 9259-0000 March 31223 33400 A361.75 382.25 -75 751,642 Canadian Dollar (CMO CAD 100,000, 5 per CAD 397 50 399.00 A 397.00 242635 397.50 Jan 7507470 7479 723 7522 0054 16.071 March Oats (CBT) 5,000 buscants per bu 0054 7484 75447084 March 270.50 280 25 276.50 270.50 - 50 4.120 British Pound (CME) 62,500,5 per May 279.50 279.50 274,00 276.00 -4.25 630 Jan 1.2747 12775 A 12729 1.2775 0011 2516 March 1.2015 1.3780 17832 A 12754 0031 Soybeans (CBT) 5,000 bucents per bu 204674 Jan 909091575 A 0.50 12.25 2.25 3422 Swiss Franc (CMDCHF 125.000 per of March 92100 92775 A 920.75 92425 2.75 337,323 March 1.0206 10205 A 10200 001 10277 95 Jube 1030 1.0368 0071 10369 A 1020 Soybean Meal (com)-100 tons, Sporton 316.00 319.30 A 310.00 Jan 210 311120 1.798 Australian Dollar (CMO) AUD 100,000 per AUD March 19.40 320 194399 32330 A 319.20 331 000 32220 7125 lan 7163 7150 A 2124 49.17 -100 Oct 2761 July 0009 March July 2718 2.765 2.708 2.746 -2007 62,540 973550-0250 1.740407 Od 2.710 2761 2.598 2.751 -,016 105/45 Currency Futures Agriculture Futures Japanese Yen (CME) *12,500,000; $ per 100% Corn (CBT)-5,000 bu, cents per bu. Jan 9228 .9257 9211 9213-0008 1.190 March 382.25 March 384.00 A 381.75 9272 .9310 9247 382.25 -.75 751,642 9259 222,921 July 397.50 399.00 A 397.00 397.50 Canadian Dollar (CME CAD 100,000; Sper CAD -.75 242,635 Oats (CBT) 5,000 bu, cents per bu. Jan .7479 .7530A 7479 7522 0054 723 March March 279.50 .7484 280.25 276.50 .7544 A 7484 279,50 -50 7533 .0054 4,124 166,071 May 279.50 279.50 274.00 276.00 British Pound (CME) 62,500; 5 per -4.25 638 Jan Soybeans (CBT) 5,000 bucents per bu. 1.2747 1.2775 A 1.2729 1.2775 0031 2,616 Jan 909.50 91575 A 909.50 March 12780 1.2832 A 1.2764 0031 912.25 1.2815 2.75 204,679 3,422 March 921.00 927.75 A 920.75 924.25 275 337,323 Swiss Franc (CME) CHF 125.000; Sper CHF Soybean Meal (CBT) 100 tons; per ton 1.0206 1.0285 A 1.0200 1.0277 .0071 66,727 June Jan 1.0330 1.0369 A 10292 1.0368 .0071 316.00 95 319.30 A 316.00 318.20 3.10 1,798 March 319.40 323.30 A 319.20 322.20 3.20 Australlan Dollar (CM-AJD 100,000; 5 pes AUD 193,399 Jan .7125 .7150 A 2124 7143 0026 Soybean Oil (cen) 60,000 lbs, cents per lb. 331 Feb 7135 .7148 A 7135 7147 0026 Jan 680 28.47 28.55 A 28.26 28.26 -.15 972 March 7129 7158 A 7122 .7150 .0026 124074 March 28.70 28.80 28,47 28.51 -.13 219,566 April 2144 .7149 A 7144 7153 0026 253 Rough Rice (CBT)-2.000 cwt; $ per cut June 7133 .7160 A 7133 7160 0027 661 March 1048.00 1069.00 A 1048.00 1066.50 18.50 7,164 Sept 7147 7161 A 7147 .7169 0026 121 May 1071.50 108350 A 1071.50 1082.50 18.50 102 Mexican Peso (CME) MXN 500,000, 5 per MXN Wheat (CBT)-5,000 bu., cents per bu. March 05107.05129 .05084 05113 00014 161,111 March 518.00 518.50 513.50 516.75 - 25 229,028 June .04890 04905 A04887 05035 00013 35 July 530,50 530.50 525.50 527.00 -2.50 76,657 Euro (CME) 125,000:5 perc Wheat (KC) 5,000 bu; cents per bu. Jan 1.1415 1.1488 1.1415 1.1486 0079 1938 March 506.25 507.25 500.50 503.00 -3.00 182,341 March 1.1475 1.1551 1.1471 1.1547 .0079 489,919 May 517.50 518.75 512.00 514.50 -3.00 55.722 Wheat (MPLS)5,000 bu; cents per bu Index Futures March 570.25 572.00 565.50 568.00 -2.25 33.947 Mini DJ Industrial Average (CBT) 55 x Index May 575.50 577.25 570.75 573.25 -225 13,177 March 23470 23668 A 23279 23512 117 72,505 Dec Cattle-Feeder (CME) 50,000 lbs., cents per lb. 23523 23686 A 23350 23530 118 544 Jan 144.600 146.325 144.200 146.000 1100 8483 S&P 500 Index (CME) $250 x Index March 142.150 144.425 7 142.000 143.900 1.075 25,193 March 2536.70 2567.00 A 2525.00 2550.60 19.30 39,216 Cattle-Live CM-40,000 lbs, cents per ib. Mini S&P 500 (CHE) $50 X Index Feb 121.800 123.400 Y 121.425 123.200 1.273 129,414 March 2537.252567.50 A 2523.25 2550.50 19.20 2,634,252 April 1.075 123.850 125.375 Y 123.500 125.075 19:40 115,863 June 2540.25 2571.25 A 2528.50 2555.00 27.554 Hogs-Lean (CME) 40,000 lbs., cents per lb. Mini S&P Midcap 400 CME) 5100 X index 61.900 Feb -.050 1703.30 79,843 61.950 62.150 V 51.250 March 1690.00 1717.10 A 1679.20 17.70 69.276 Apell 66.700 66.900 65 825 66.375 - 375 60,839 Mini Nasdaq 100(CME) $20 X index March 64513 Lumber (CMO 110.000 bdt; $per 1,000 bd. ft. 65358 A 64025 5496.5 625 196908 320.20 Jan 638 326.20 324.30 323.00 398 1.20 6520,9 June 1.250 6471565570 A 64270 March 332.20 333.00 328.00 330.80 2.724 Mini Russell 2000 CME) 550 X Index 2430 March 1384.40 1414.60 A 1375 80 1405.90 465.350 Milk CME). 200,000 lbs., cents per lb 534 Jan 25.00 14.16 14.25 14.12 14.14 -11 4.391 June 1391.60 1417.90 A 1386.50 1410.50 Feb 14.72 14.73 1655 14.57 4,095 Mini Russell 1000 (CME) $50 x Index 1409.80 March 1402.00 1418.90 Y 1402.00 10.70 7,654 Cocoa (ICE-US) 10 metric tons perton March 2.362 2413 2.256 2.410 96,443 U.S. Dollar Index (ICE US-$1,000 x Index 49 2,447 2.394 2,395 51,809 March - 52 95.73 05.20 May 95.23 95.71 52,402 95 June 950 - 51 04.74 9506 Y 1.75 .90 -17 2449