Refer to the Mini-S&P contract in:Figure 22.1; Assume the closing price for this day. a. 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 net 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 % Contract Open High hilo low Settle Chg Open interest Open interest 1.15 1.10 May 127,138 60,630 Jan 1,756 138,638 .72 .70 389,965 188,201 May Coffee (ICE-US)-37,500 lbs., cents per lb. March 101.50 103.45 A 101.15 102.75 104.40 106.55 A 104.30 105.75 Sugar-World (ICE-US)-112,000 lbs., cents per lb. March 11.95 12.67 A 11.94 12.65 12.04 12.73 A 12.03 12.72 Sugar-Domestic (ICE-US)-112,000 lbs.; cents per lb. March 25.40 25.40 A 25.34 25.40 May 25.50 25.54 A 25.50 25.50 Cotton (ICE-US)-50,000 lbs.; cents per lb. March 72.52 73.92 A 72.48 72.75 73.99 75.23 A 73.92 74.10 Orange Juice (ICE-US)15,000 lbs., cents per lb. Jan 121.20 122.00 121.15 121.95 March 123.75 124.80 122.85 123.85 .04 -.01 353 302,111 43,689 10,837 9,830 3,090 2,718 2.455 .23 .16 May 126,870 39,088 24,797 3,313 .65 .55 582 14,103 261 85,951 Futures Contracts | WSJ.com/commodities Metal & Petroleum Futures Contract Open High hilo low Settle Chg Copper-High (CMX)-25,000 lbs.; $ per lb. 2.6445 2.6460 2.6410 2.6410 -0.0105 March 2.6500 2.6595 2.6315 2.6370 -0.0105 Gold (CMX)-100 troy oz.; $ per troy oz. Jan 1284.90 1286.80 4.10 Feb 1287.00 1297.00 1284.10 1289.90 4.10 June 1298.90 1309.00 1298.50 1302.90 4.20 Aug 1310.00 1315.10 1307.80 1309.00 4.10 Dec 1317.60 1326.80 1317.60 1321.50 4.10 Feb 20 1327.90 1331.00 1327.30 1327.70 4.20 Palladium (NYM)-50 troy oz., $ per troy oz. March 1242.40 1249.40 A 1230.80 1240.20 5.80 June 1226.20 1231.90 1216.10 1224.30 4.70 Platinum (NYM)-50 troy oz.; $ per troy oz. Jan 824.20 825.40 A 821.00 818.40 -3.60 April 827.20 836.50 A 823.30 824.30 -2.90 Silver (CMX)-5,000 troy oz.; $ per troy oz. Jan 15.750 15.750 15.750 15.669 -0.026 March 15.800 15.880 15.680 15.756 -0.030 Crude Oil, Light Sweet (NYM)-1,000 bbls.; $ per bbl. Feb 48.22 49.79 A 48.11 48.52 0.56 March 48.49 50.11 A 48.44 48.82 0.54 April 48.85 50.47 A 48.80 49.17 0.52 May 49.32 50.90 A 49.32 49.60 0.50 June 49.79 51.33 A 49.72 50.04 0.48 Dec 51.32 52.77 A 51.30 51.48 0.40 NY Harbor ULSD (NYM)-42,000 gal.; $ per gal. Feb 1.7775 1.8245 A 1.7764 1.7784 .0092 March 1.7691 1.8160 A 1.7690 1.7714 .0104 Gasoline-NY RBOB (NYM)-42,000 gal.: $ per gal. Feb 1.3585 1.3945 1.3389 1.3408 -.0070 March 1.3716 1.4080 1.3524 1.3541-0077 Natural Gas (NYM)-10,000 MMBtu.; $ per MMBtu. Feb 2.932 2.994 2.910 2.944-100 March 2.812 2.886 2.793 2.847 -.058 April 2.650 2.708 2.640 2.677 -.011 May 2.637 2.687 2.625 2.662 -.002 July 2.718 2.765 2.708 2.746 -.007 Oct 2.710 2.761 2.698 2.751 -.016 820 142,916 367.400 319,791 136,259 115,849 229,259 191,808 Interest Rate Futures Treasury Bonds (CBT)-$100,000; pts 32nds of 100% March 146-230 147-170 146-040 146-160 -12.0 949,992 June 146-160 146-190 145-300 145-270 -13.0 61 Treasury Notes (CBT)$100,000; pts 32nds of 100% March 122-060 122-150 121-290 122-015 -8.0 4.102,583 June 122-150122-240 122-065 122-105 -7.5 2,418 5 Yr. Treasury Notes (CBT)-$100,000; pts 32nds of 100% March 114-215 114-280 114-155 114-187 -5.5 4,590,715 2 Yr. Treasury Notes (CBT)-$200,000; pts 32nds of 100% March 106-045 106-065 106-010 106-025 -2.7 2,552,998 30 Day Federal Funds (CBT)-$5,000,000; 100-daily avg. 97.600 97.600 97.598 97.598 -.002 317,562 April 97.605 97.615 97.600 97,605 -.005 310,713 10 Yr. Del. Int. Rate Swaps (CBT)-$100,000; pts 32nds of 100% March 102.766 102.797 102.297 102.391 - 219 27,938 1 Month Libor (CME)-$3,000,000; pts of 100% Jan 97.4875 .0075 535 Eurodollar (CME)-$1,000,000; pts of 100% Jan 97.2300 97.2375 97.2250 97.2300 .0050 268.383 March 97.2850 97.3150 97.2850 97.3000 .0050 1,429,121 June 97.3050 97.3450 97.2900 97.3150 1,252,674 Dec 97.3650 97.4100 797.3250 97.3550 -.0250 1,740,407 Currency Futures Jan 109,341 73,598 120,856 88,591 174,258 270,970 148,613 132,474 62,540 105,445 972 April Oct 2.710 2.761 2.698 2.751 -.016 105,445 Currency Futures Japanese Yen (CME) 12,500,000; $ per 100% Agriculture Futures Jan .9228 .9257 .9211 .9213-.0008 1,190 Corn (CBT)-5,000 bu., cents per bu. March .9272 .9310 .9247 .9259 .0009 222,921 March 382.25 384.00 A 381.75 382.25 -.75 751,642 Canadian Dollar (CME-CAD 100,000; $ per CAD July 397.50 399.00 A 397.00 397.50 -.75 242,635 Jan .7479 .7530 A .7479 .7522 .0054 723 Oats (CBT)-5,000 bu.; cents per bu. March .7484 .7544 A7484 .7533 .0054 166,071 March 279.50 280.25 276.50 279.50 -.50 4,124 British Pound (CME) 62,500; $ per May 279.50 279.50 274.00 276.00 -4.25 638 Jan 1.2747 1.2775 A 1.2729 1.2775 .0031 2,616 Soybeans (CBT)-5,000 bu., cents per bu. March 1.2780 1.2832 A 1.2764 1.2815 .0031 204,679 Jan 909.50 915.75 A 909.50 912.25 2.75 3,422 Swiss Franc (CME)-CHF 125,000; $ per CHF March 921,00 927.75 A 920.75 924.25 2.75 337,323 March 1.0206 1.0285 A 1.0200 1.0277 .0071 66,727 Soybean Meal (CBT)-100 tons.; $ per ton. June 1.0330 1.0369 A 1.0292 1.0368 .0071 95 Jan 316.00 319.30 A 316.00 318.20 3.10 1,798 Australian Dollar (CME)-AUD 100,000; $ per AUD March 319.40 323.30 A 319.20 322.20 3.20 193,399 Jan .7125 .7150 A 7124 .7143 .0026 331 Soybean Oil (CBT)-60,000 lbs., cents per lb. Feb .7135 .7148 A 7135 .7147 .0026 680 Jan 28.47 28.55 A 28.26 28.26 -.15 March .7129 .7158 A 7122 .7150 .0026 124,074 March 28.70 28.80 A 28.47 28.51 -.13 219,566 .7144 .7149 A 7144 .7153 .0026 253 Rough Rice (CBT)-2,000 cwt.; $ per cwt. 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 1083.50 A 1071.50 1082.50 18.50 102 Mexican Peso (CME)-MXN 500,000; $ per MXN Wheat (CBT)-5,000 bu.; cents per bu. March .05107.05129 A .05084 .05113.00014 161,111 March 518.00 518.50 513.50 516.75 -25 229,028 June .04890 .04905 A .04887 .05035 .00013 35 July 530.50 530.50 525.50 527.00 -2.50 76,657 Euro (CME)-125,000; $ per Wheat (KC)-5,000 bu., cents per bu. Jan 1.1415 1.1488 1.1415 1.1486 .0079 1,938 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 (MPLSH 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)-$5 X index May 575.50 577.25 570.75 573.25 -2.25 13,177 March 23470 23668 23279 23512 117 72,535 Cattle-Feeder (CME)-50,000 lbs., cents per lb. Dec 23523 23686 A 23350 23530 118 544 Jan 144.600 146.325 144.200 146.000 1.100 8,483 S&P 500 Index (CME)-$250 X index March 142.150 144.425 142.000 143.900 1.075 25,193 March 2536.70 2567.00 A 2525.00 2550.60 19.30 39,216 Cattle-Live (CME)-40,000 lbs.; cents per lb. Mini S&P 500 (CME)-$50 x index Feb 121.800 123.400 121.425 123.200 1.275 129,414 March 2537.25 2567.50 A 2523.25 2550.50 19.20 2,634,252 April 123.850 125.375 123.500 125.075 1.075 115,863 June 2540.25 2571.25 2528.50 2555.00 19.40 27,554 Hogs-Lean (CME)-40,000 lbs., cents per lb. Mini S&P Midcap 400 (CME-$100 x index 61.950 62.150 61.250 61.900 -.050 79,843 March 1690.00 1717.10 A 1679.20 1703.30 17.70 69,276 April 66.700 66.900 65.825 66.375 -.375 60,839 Mini Nasdaq 100 (CME)-$20 x index Lumber (CME-110,000 bd.ft; $ per 1,000 bd. ft. March 6451.3 6535.8 A 6402.5 6496.5 62.5 196,948 Jan 326.20 326.20 323.00 324.80 1.20 398 June 6471.5 6557.0 A 6427.0 6520.8 63.8 1,350 March 332.20 333.00 328.00 330.80 .90 2,724 Mini Russell 2000 (CME)-$50 x index Milk (CME)-200,000 lbs., cents per lb. March 1384.40 1414.60 A 1375.80 1405.90 24.30 465,350 Jan 14.16 14.26 14.12 14.14 -.11 4,391 June 1391.60 1417.90 A 1386.80 1410.50 25.00 534 Feb 14.72 14.73 14.55 14.57 -.17 4,095 Mini Russell 1000 (CME)-$50 X index Cocoa (ICE-US)-10 metric tons: $ per ton. March 1402.00 1418.90 1402.00 1409.80 10.70 7,664 March 2.362 2,413 2,356 2,410 49 96,443 U.S. Dollar Index (ICE-US)-$1,000 X index May 2,395 2,449 2,394 2,447 49 51,809 March 95.71 95.73 95.20 95.23 -.52 57,402 June 95.08 95.0894.75 94.74 -.51 945 Feb