Speculator II: (you must show all of your work to receive full credit) Refer to the following Futures Quotes for the Corn Futures Market Corn Market: November 3, 2021 Price Unit: Cents and quarter-cents/by Contract Size = 5,000 bushels MONTH LAST OPEN HIGH LOW Dec-21 559'0 5636 5696 5564 Mar-22 567'4 572'0 577'6 5652 May-22 5724 5764 582'2 5700 Jul-22 572'0 5770 5830 5704 3. Assume you are a speculator in the corn market. On November 3, you bought five MAR22 corn contracts at the high price traded that day. Later in the day, you sold five MAR21 corn contracts at the low price of the day. Assume there was a $20 broker fee to execute the round- turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.) 4. Now assume that you bought five MAR22 corn contracts at the open price for the day. Later in the day, you sold five MAR22 corn contracts at the high to close your position. Assume there was a $20 broker fee to execute the round-turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.) Speculator II: (you must show all of your work to receive full credit) Refer to the following Futures Quotes for the Corn Futures Market Corn Market: November 3, 2021 Price Unit: Cents and quarter-cents/by Contract Size = 5,000 bushels MONTH LAST OPEN HIGH LOW Dec-21 559'0 5636 5696 5564 Mar-22 567'4 572'0 577'6 5652 May-22 5724 5764 582'2 5700 Jul-22 572'0 5770 5830 5704 3. Assume you are a speculator in the corn market. On November 3, you bought five MAR22 corn contracts at the high price traded that day. Later in the day, you sold five MAR21 corn contracts at the low price of the day. Assume there was a $20 broker fee to execute the round- turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.) 4. Now assume that you bought five MAR22 corn contracts at the open price for the day. Later in the day, you sold five MAR22 corn contracts at the high to close your position. Assume there was a $20 broker fee to execute the round-turn. What was your total profit or loss on your trade? Show your calculations below and state whether it was a profit or loss. (6 pts.)