Suppose you purchase the May 2017 put option on corn futures with a strike price of $3.80. Assume your purchase was at the last price. Use Table 23.2 a. How much does your option cost per bushel of corn? (Round your answer to 5 decimal places, e.g., 32.16161.) b. What is the total cost for one contract? Assume each contract is for 5,000 bushels. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. Suppose the price of corn futures is $3.62 per bushel at expiration of the option contract. What is your net profit or loss from this position? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) d. What is your net profit or loss if corn futures prices are $4.03 per bushel at expiration? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. per bushel Option cost Total cost b. C. d. TABLE 23.2 Sample CME Group Futures Options Price Quotations Por Urrutur Charts Last Change LOW May 2017 TYD American Options Expiration May 2017 Sr Range At The Money ! But Change Last Pro Last Change 221 2009 re 19 - 07 13 $ 2 3 wa 2012 CT UNE 77 9 5 23 5 2017 - 5 5 03 1 E 13 i 5 1:21: 8 1 Source: CMF Groun www.marun.com February 10, 2017 TABLE 23.2 Sample CME Group Futures Options Price Quotations May 2017 Type American Options Don May 2017 Serta Range At The Money Low UL CT 2 227 21 2017 2 00 CT $ 2 70 00 2007 & + 52 a . 20 Ne CT 5 5 WT 8 00 NO CT 9 9 2007 3 n . 173 00 2017 203 5 a sos 2017 CT SMO - - 200 34 CT 2301 10 T. # 00 200 CT 00 Cats Puta LOW Prior Bottle Change Last Stra Price Low PRIOK Last Chango Sotto LOW High blume Limit Updated HI LOW Updated Limit volume High 165857 No 10 FED 221 274 2017 237 221 257 3600 55 10 No 591 Lt 53 CT ses 2017 15.3837 CT 10 Feb No L! 00 3650 57 TO NO 575 Lt 00 163854 CT 10 16384 CT 10 Fee 702 205 191 197 Limit 00 370055 NO 917 Lt 00 16.3805 CT 10 Feb 2017 NO NO 16:38 10 Fe 11 103 - 103 107 163808 CT 10 Feb 00 NO 163837 CT 10 FD 2017 324150 123 117 150 27 15 126 NO ONS LE 00 16 30 31 CT 10 F 2017 00 No 120 97 305.0 No Lt . 175 CT 10 PD 2017 - . 163809 CT 10 2017 00 NO 16584 CT 100 2017 196 110 34 81 105 200 194 -18 207 106 200 No 150 Lt 28 16:30.07 CT 10 F0 2017 00 No No 163325 CT 19 Feb 77 58 $3 3950 - 243 - . 163820 CT 10 Pro 2017 155845 CT 10 2017 NO Lim 230 75 58 54 75 4000 . - 11 LIME 00 163841 CT 10 e 2017 16.33.0 CT 13 Fe 2017 35 57 4050 . LI 00 1600 CT 10 Feo 2017 ABOUT Rapon
