Suppose you sell eight July 2014 silver futures contracts on this day, at the last price of the day Use Table 23 1 What will your profit or loss be if silver prices turn out to be $19 23 per ounce at expiration (Do not round intermediate calculations Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Loss $ 195 What will your profit or loss be if silver prices are $19 09 per ounce at expiration (Do not round intermediate calculations Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Profit 975 25 25 25 25 93 81 115,145 June 98 72 99 11 26 827 51,396 4 777 118 1079 150 Futures Contracts WSJ com commodities Metal Petroleum Futures Contract Open Open High Na Low Settle chy interest Contract Open Open High bilo Low Settle interest Sugar World (ICE US) 112,000 lb, cunts part Copper High (CMX) 25,000 lbs $ perib May 17 05 17 35 17 05 17 24 20 19,945 May 30780 3 0835 3 0210 3 0295 0 0430 4,060 July 17 62 17 89 17 61 17 72 15 431 957 July 3 0740 3 0795 3 0150 3 0275 0 0455 98,212 Sugar Domestic (ICE US) 12,000 heunts per lh Gold (CMX) 100 troyce Spar troy July 24 55 24 55 2455 2445 11 3,214 May 1296 00 1296 50 1286 60 1295 60 0 40 608 Nov 24 50 24 85 30 3 182 June 1295 60 1298 40 1284 90 1295 90 0 40 218,906 Cotton (ICE US) 90,000 hects par Aug 1295 50 1297 50 1285 10 1296 00 0 50 51,769 May 9431 94 60 9431 9414 12 605 Oct 1293 00 1298 00 1286 00 1296 10 0 50 10 324 July 94,00 94 58 94 29 23 Dec 1295 10 1297 70 1285 60 1296 20 0 50 27 516 Orange Juice (ICE US) 15,000 lbs, cants per la Dec 15 1296 40 1296 40 1296 40 1299 70 0 20 10,641 May 157 00 157 10 155 20 154 60 miNY Gold (CMX) 90 tray az Sper troyce 2 40 2 202 July 160 50 161 90 16030 160 60 70 June 15,550 1295 50 1298 25 1285 00 1296 00 0 25 552 Aug 1291 00 1291 00 1291 00 1296 00 0 50 42 Palladium (NYM) 90try as per troyce Interest Rate Futures Sept 302 00 313 70 800 00 Treasury Bonds (CBT) $100,000, 52 of 100 813 45 4 60 4,780 Dec 812 00 812 00 18 0 812 00 813 85 4 60 233 134 130 135 000 133 300 134 300 733,186 Platinum (NYM) 30troy ax $ per troos Sept 133 200 134 060 133 050 134 050 18 0 1753 June 1991 10 1417 10 1391 10 1426 90 3 50 Treasury Notes (CBT) $100,000 pts nois at 100 1 July 1430 20 143120 1419 70 1427 90 3 50 60,875 June 123 260 124 135 13,5 2,516,039 Sept 123 025 12 170 Silver (CMX) 5 000 truy es $ per troy is 122 315 123 170 140 12 648 May 19 435 19 450 19 025 19 119 0 369 2,785 5 Yr Treasury Notes (CBT) 5100,000 pts 32nds of 2006 July 19 485 19 510 19 060 19 174 0364 100,283 June 119 060 119 027 119 145 9 7 2,078,501 miNY Silver (CMX) 2500 tree Sper troyz Sept 118 090 118 200 10 2 18 585 July 19 438 19 438 19 100 19 175 0 363 124 2 Yr Treasury Notes (CBT) $200 000 ptsnda of 1004 Sept 19 188 19 188 19 138 19 200 0 375 6 June 109 287 109 305 109 280 109 300 1 5 1,085,118 Crude Oil, Light Sweet (NYM) 1,000 bls $ per bl Sopt 109 200 109 202 109 182 109 202 2 0 28 670 June 100 76 100 76 99 34 99 74 1 54 341,594 30 Day Federal Funds (CBT) 59,000,000 100 daily avg July 100 06 100 06 1 48 192,620 April 99 910 99 913 99 910 99 913 48 635 Aug 99 15 99 16 97,91 98 28 143 101,218 Dec 99 870 99 875 99 865 99 870 Sept 98 24 98 24 97 00 97 39 139 107,875 10 Yr Int Rate Swaps (CBT) 5100,000 pts 32nds 100 Dec 95 75 95 98 94 56 94 93 131 214 924 June 101 060 101 250 101 050 101 245 13 5 Dec 15 88 56 88 57 87 73 88 03 0 89 119,044 Month Libor (CME) $5 000,000 pts of 100 Heating Oil No 2 (NYM) 42,000 gal Spergal May 99 8500 99 8500 99 8500 99 8500 0025 1074 May 2 9650 2 9661 2 9235 2 9349 0352 4,819 July 99,8475 99 8475 A 99 8450 99 8450 0025 521 June 2 9620 2 9620 2 9168 2 9281 0354 95,367 Eurodollar (CME) $1,000,000 pts at 100 Gasoline NY RBOB (NYM)42,000 gal Speegel May 99 7750 99 7775 99 7750 99 7750 0025 30 867 May 3 0589 3 0605 2 9918 3 0077 0557 6,961 March 15 99 6150 99 6350 99 6100 99 6300 0150 1,051313 June 3 0020 3 0055 2 9478 2 9644 0436 123,498 June 99 4300 99,4600 99 4250 99 4550 0250 1,072,829 Natural Gas (NYXO 10,000 MB Spar MMB Dec 98 9200 98 9650 98 9000 98 9600 0450 1 222 978 June 4 8384852 4 751 4 815 016 190,355 July 4 860 4877 4 843 010 182,707 Currency Futures Sept 4 814 4845 4 742 4 813 007 61,579 Japanese Yen (CME) 112 900 000$ pe 100V Oct 4 831 4 850 4 754 4 818 007 120,745 June 9745 9804 9743 9795 0043 167,682 Jan'15 5 006 5 052 4 965 5 022 010 64,347 June 16 9947 0041 7,000 April 4272 4272 4 217 4 239 015 64,511 Canadian Dollar (CME) CAD 300,000 $ per CAD June 9124 9126 0009 115 458 Agriculture Futures Dec 9080 9091 0009 2,385 Corn(CBT) 5,000 bu, cents per a British Pound (CME) 262,500 per May 515,00 515 50 509 00 514 00 1 75 35,010 June 1 6820 1 6895 A 1 6797 1 6881 0056 234 702 July 520 75 521 50 514 25 519 00 2 50 627,376 Sept 1 6803 1 6880 A 1 6792 1 6868 0055 1 188 Ethanol (CBT) 29 000 gal $ pergal Swiss Franc (CME) CHF 125 000 $ per CHF 2 2972314 2 251 2 260 294 June 1 1319 1 1385 11300 1 1369 0048 46 955 2220 2231 2 181 2 186 03 1,838 Sept 1 1326 1 1373 11326 11378 0049 324 Oats (CBT) 5 000 bucets perba Australian Dollar (CME) AUD 100,000 $pe AUD May 422 00 425 50 411 00 418 50 3 50 328 June 9237 9271 9222 9267 0023 109,395 July 369 00 370 00 358 25 360 50 8 75 4,661 Sept 9189 9211 9166 9209 517 Soybeans (CBT) S OCO,cats per bu Mexican Peso (CME) MXN 500 000, $ per MXN May 1525 00 1532 00 A 1516,00 1530 75 6 75 16,868 June 07600 07630 07995 07628 00017 127,104 July 1517 25 1517 75 1502 25 1512 75 4 50 313,722 Sept 07553 07553 07553 07573 00017 900 Soybean Meal (CBT) 200 ton Sperton Euro (CME) 128 000, S per May 501 70 50480 A 499 00 503 90 4 00 June 1 3810 1 3877 1 3768 1 3870 0061 259,078 July 490 90 49430 A 489 20 493 70 2 50 169 405 Sept 1 3806 1 3874 1 3768 13868 0061 11787 Soybean Oil (CBT) 50,000 lbs omts per lb Euro Japanese Yen (ICE US) 125,000 par May 42 79 42 80 41 69 41 88 89 8,767 June 141 71 141 05 141 09 141 60 2 926 July 42 91 43 00 41 82 42 11 84 166,719 Euro British Pound (ICE US) E125,000 per Rough Rice (CBT) 2 000 wt $parcwt June 8212,8241 0009 1 906 May 1555 50 1563 00 1552 50 1561 50 100 276 Euro Swiss Franc (ICE US) 125 000,CHF par July 1556 50 1559 50 1548 00 1555 50 1 50 5,605 1 2197 1 2204 A 12200 415 Wheat (CBT) S 000, perhe May 706 25 716 00 702 25 713 00 5 00 6,501 Index Futures July 715 00 724 75 710 75 721 50 5 00 224,364 DJ Industrial Average (CBT) $10 x index Wheat (KC) S 000 barcats per bu 16061 16525 16433 16511 44 4,931 May 196 50 81100 793 50 809 75 12 50 1,951 July 302 50 815 25 796 75 812 50 Mini DJ Industrial Average (CBT) $5x inds 88 987 June 16460 16526 16432 Wheat (MPLS) 9 000 ba, mts per bu 16511 44 121 623 Sept 16394 16443 16378 16440 44 141 May 746 50 758 50 742 75 757 00 9 75 1,161 S P 500 Index (CME) $250 x index July 760 00 77125 A 756 25 768 75 7 50 35,513 June 1870 40 1880 20 1856 50 1877 90 6 10 Cattle Feeder (CME) 50,000 lbs ontspeelt 129,199 1865 40 1872 40 1860 40 1870 50 6 10 1871 May 180 600 181 425 179 900 181 200 625 8,202 Mini S P 500(CME) $50 x index Aug 186 800 187 900 A 186 250 187 475 925 23,690 June 1870 50 1880 25 1856 25 1878 00 6 25 2,835,160 Cattle Live (CME) 40,000 lbs cents per la Sept 1363 25 1872 75 1859 25 1870 50 6 00 14711 145 400 148 500 144 900 145 825 325 963 Mini S P Midcap 400 (CME) $100 x index June 137 175 137 725 136 575 137 200 175 173,780 June 1344 70 1354 80 1337 80 1353 10 7 90 87 449 Hogs Lean (CME) 40,000 the cents per ll, Nasdaq 100(CME) $100 x Index May 118 675 119 000 117 275 117 675 2 600 2,854 June 3555 50 3581 00 3537 00 3573 25 9 50 16,591 June 124 425 124 500 122 500 123 125 2150 99,408 Mini Nasdaq 100(CME) $20 x index Lumber (CME) 110,000 bd $ per 1,000 June 35573 35786 3539 0 35733 9 5 348 588 May 336 70 339 00 334 80 335 90 1 40 1,074 Sept 3549 3 3568 0 3534 8 3566 5 9 8 295 July 333 50 334 60 330 10 331 20 2 30 3 126 Mini Russell 2000 (ICE US) SLOOx Index Milk (CME) 200,000 lbs cats per le June 1115 00 1126 70 1103 60 1123 60 7 30 323,263 April 24 27 2432 A 24 27 24 31 01 5,011 1143 00 1143 00 1135 00 1119 30 7 30 75 May 2255 22 73 22 01 22 55 07 5,060 Mini Russell 1000 (ICE US) $100 x index Cocoa (ICE US) 10 metric tons Speeton 1039 40 1048 70 1039 70 1047 10 3 70 9 229 May 2 935 2 983 2,935 2,974 34 744 U S Dollar Index (ICE US) $1,000 x index July 2 951 3 018 2 943 2 930 29 104,113 June 79 87 80 02 79 51 79 53 35 51 335 Coffee (ICE US) 37 500 lbs cats per la Sept 30 02 20 02 79 66 79 67 34 1450 May 207 00 206 40 200 90 203 05 5 85 206 July 210 00 211 20 202 00 205 85 6 05 84,567 Source SIX Financial Information 9128 9097 9078 9086 May June 0023 10,595 8199 8217 June 12187 0002 June 10,00 Sept April sept June Suppose you sell eight July 2014 silver futures contracts on this day, at the last price of the day Use Table 23 1 What will your profit or loss be if silver prices turn out to be $19 23 per ounce at expiration (Do not round intermediate calculations Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Loss $ 195 What will your profit or loss be if silver prices are $19 09 per ounce at expiration (Do not round intermediate calculations Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Profit 975 25 25 25 25 93 81 115,145 June 98 72 99 11 26 827 51,396 4 777 118 1079 150 Futures Contracts WSJ com commodities Metal Petroleum Futures Contract Open Open High Na Low Settle chy interest Contract Open Open High bilo Low Settle interest Sugar World (ICE US) 112,000 lb, cunts part Copper High (CMX) 25,000 lbs $ perib May 17 05 17 35 17 05 17 24 20 19,945 May 30780 3 0835 3 0210 3 0295 0 0430 4,060 July 17 62 17 89 17 61 17 72 15 431 957 July 3 0740 3 0795 3 0150 3 0275 0 0455 98,212 Sugar Domestic (ICE US) 12,000 heunts per lh Gold (CMX) 100 troyce Spar troy July 24 55 24 55 2455 2445 11 3,214 May 1296 00 1296 50 1286 60 1295 60 0 40 608 Nov 24 50 24 85 30 3 182 June 1295 60 1298 40 1284 90 1295 90 0 40 218,906 Cotton (ICE US) 90,000 hects par Aug 1295 50 1297 50 1285 10 1296 00 0 50 51,769 May 9431 94 60 9431 9414 12 605 Oct 1293 00 1298 00 1286 00 1296 10 0 50 10 324 July 94,00 94 58 94 29 23 Dec 1295 10 1297 70 1285 60 1296 20 0 50 27 516 Orange Juice (ICE US) 15,000 lbs, cants per la Dec 15 1296 40 1296 40 1296 40 1299 70 0 20 10,641 May 157 00 157 10 155 20 154 60 miNY Gold (CMX) 90 tray az Sper troyce 2 40 2 202 July 160 50 161 90 16030 160 60 70 June 15,550 1295 50 1298 25 1285 00 1296 00 0 25 552 Aug 1291 00 1291 00 1291 00 1296 00 0 50 42 Palladium (NYM) 90try as per troyce Interest Rate Futures Sept 302 00 313 70 800 00 Treasury Bonds (CBT) $100,000, 52 of 100 813 45 4 60 4,780 Dec 812 00 812 00 18 0 812 00 813 85 4 60 233 134 130 135 000 133 300 134 300 733,186 Platinum (NYM) 30troy ax $ per troos Sept 133 200 134 060 133 050 134 050 18 0 1753 June 1991 10 1417 10 1391 10 1426 90 3 50 Treasury Notes (CBT) $100,000 pts nois at 100 1 July 1430 20 143120 1419 70 1427 90 3 50 60,875 June 123 260 124 135 13,5 2,516,039 Sept 123 025 12 170 Silver (CMX) 5 000 truy es $ per troy is 122 315 123 170 140 12 648 May 19 435 19 450 19 025 19 119 0 369 2,785 5 Yr Treasury Notes (CBT) 5100,000 pts 32nds of 2006 July 19 485 19 510 19 060 19 174 0364 100,283 June 119 060 119 027 119 145 9 7 2,078,501 miNY Silver (CMX) 2500 tree Sper troyz Sept 118 090 118 200 10 2 18 585 July 19 438 19 438 19 100 19 175 0 363 124 2 Yr Treasury Notes (CBT) $200 000 ptsnda of 1004 Sept 19 188 19 188 19 138 19 200 0 375 6 June 109 287 109 305 109 280 109 300 1 5 1,085,118 Crude Oil, Light Sweet (NYM) 1,000 bls $ per bl Sopt 109 200 109 202 109 182 109 202 2 0 28 670 June 100 76 100 76 99 34 99 74 1 54 341,594 30 Day Federal Funds (CBT) 59,000,000 100 daily avg July 100 06 100 06 1 48 192,620 April 99 910 99 913 99 910 99 913 48 635 Aug 99 15 99 16 97,91 98 28 143 101,218 Dec 99 870 99 875 99 865 99 870 Sept 98 24 98 24 97 00 97 39 139 107,875 10 Yr Int Rate Swaps (CBT) 5100,000 pts 32nds 100 Dec 95 75 95 98 94 56 94 93 131 214 924 June 101 060 101 250 101 050 101 245 13 5 Dec 15 88 56 88 57 87 73 88 03 0 89 119,044 Month Libor (CME) $5 000,000 pts of 100 Heating Oil No 2 (NYM) 42,000 gal Spergal May 99 8500 99 8500 99 8500 99 8500 0025 1074 May 2 9650 2 9661 2 9235 2 9349 0352 4,819 July 99,8475 99 8475 A 99 8450 99 8450 0025 521 June 2 9620 2 9620 2 9168 2 9281 0354 95,367 Eurodollar (CME) $1,000,000 pts at 100 Gasoline NY RBOB (NYM)42,000 gal Speegel May 99 7750 99 7775 99 7750 99 7750 0025 30 867 May 3 0589 3 0605 2 9918 3 0077 0557 6,961 March 15 99 6150 99 6350 99 6100 99 6300 0150 1,051313 June 3 0020 3 0055 2 9478 2 9644 0436 123,498 June 99 4300 99,4600 99 4250 99 4550 0250 1,072,829 Natural Gas (NYXO 10,000 MB Spar MMB Dec 98 9200 98 9650 98 9000 98 9600 0450 1 222 978 June 4 8384852 4 751 4 815 016 190,355 July 4 860 4877 4 843 010 182,707 Currency Futures Sept 4 814 4845 4 742 4 813 007 61,579 Japanese Yen (CME) 112 900 000$ pe 100V Oct 4 831 4 850 4 754 4 818 007 120,745 June 9745 9804 9743 9795 0043 167,682 Jan'15 5 006 5 052 4 965 5 022 010 64,347 June 16 9947 0041 7,000 April 4272 4272 4 217 4 239 015 64,511 Canadian Dollar (CME) CAD 300,000 $ per CAD June 9124 9126 0009 115 458 Agriculture Futures Dec 9080 9091 0009 2,385 Corn(CBT) 5,000 bu, cents per a British Pound (CME) 262,500 per May 515,00 515 50 509 00 514 00 1 75 35,010 June 1 6820 1 6895 A 1 6797 1 6881 0056 234 702 July 520 75 521 50 514 25 519 00 2 50 627,376 Sept 1 6803 1 6880 A 1 6792 1 6868 0055 1 188 Ethanol (CBT) 29 000 gal $ pergal Swiss Franc (CME) CHF 125 000 $ per CHF 2 2972314 2 251 2 260 294 June 1 1319 1 1385 11300 1 1369 0048 46 955 2220 2231 2 181 2 186 03 1,838 Sept 1 1326 1 1373 11326 11378 0049 324 Oats (CBT) 5 000 bucets perba Australian Dollar (CME) AUD 100,000 $pe AUD May 422 00 425 50 411 00 418 50 3 50 328 June 9237 9271 9222 9267 0023 109,395 July 369 00 370 00 358 25 360 50 8 75 4,661 Sept 9189 9211 9166 9209 517 Soybeans (CBT) S OCO,cats per bu Mexican Peso (CME) MXN 500 000, $ per MXN May 1525 00 1532 00 A 1516,00 1530 75 6 75 16,868 June 07600 07630 07995 07628 00017 127,104 July 1517 25 1517 75 1502 25 1512 75 4 50 313,722 Sept 07553 07553 07553 07573 00017 900 Soybean Meal (CBT) 200 ton Sperton Euro (CME) 128 000, S per May 501 70 50480 A 499 00 503 90 4 00 June 1 3810 1 3877 1 3768 1 3870 0061 259,078 July 490 90 49430 A 489 20 493 70 2 50 169 405 Sept 1 3806 1 3874 1 3768 13868 0061 11787 Soybean Oil (CBT) 50,000 lbs omts per lb Euro Japanese Yen (ICE US) 125,000 par May 42 79 42 80 41 69 41 88 89 8,767 June 141 71 141 05 141 09 141 60 2 926 July 42 91 43 00 41 82 42 11 84 166,719 Euro British Pound (ICE US) E125,000 per Rough Rice (CBT) 2 000 wt $parcwt June 8212,8241 0009 1 906 May 1555 50 1563 00 1552 50 1561 50 100 276 Euro Swiss Franc (ICE US) 125 000,CHF par July 1556 50 1559 50 1548 00 1555 50 1 50 5,605 1 2197 1 2204 A 12200 415 Wheat (CBT) S 000, perhe May 706 25 716 00 702 25 713 00 5 00 6,501 Index Futures July 715 00 724 75 710 75 721 50 5 00 224,364 DJ Industrial Average (CBT) $10 x index Wheat (KC) S 000 barcats per bu 16061 16525 16433 16511 44 4,931 May 196 50 81100 793 50 809 75 12 50 1,951 July 302 50 815 25 796 75 812 50 Mini DJ Industrial Average (CBT) $5x inds 88 987 June 16460 16526 16432 Wheat (MPLS) 9 000 ba, mts per bu 16511 44 121 623 Sept 16394 16443 16378 16440 44 141 May 746 50 758 50 742 75 757 00 9 75 1,161 S P 500 Index (CME) $250 x index July 760 00 77125 A 756 25 768 75 7 50 35,513 June 1870 40 1880 20 1856 50 1877 90 6 10 Cattle Feeder (CME) 50,000 lbs ontspeelt 129,199 1865 40 1872 40 1860 40 1870 50 6 10 1871 May 180 600 181 425 179 900 181 200 625 8,202 Mini S P 500(CME) $50 x index Aug 186 800 187 900 A 186 250 187 475 925 23,690 June 1870 50 1880 25 1856 25 1878 00 6 25 2,835,160 Cattle Live (CME) 40,000 lbs cents per la Sept 1363 25 1872 75 1859 25 1870 50 6 00 14711 145 400 148 500 144 900 145 825 325 963 Mini S P Midcap 400 (CME) $100 x index June 137 175 137 725 136 575 137 200 175 173,780 June 1344 70 1354 80 1337 80 1353 10 7 90 87 449 Hogs Lean (CME) 40,000 the cents per ll, Nasdaq 100(CME) $100 x Index May 118 675 119 000 117 275 117 675 2 600 2,854 June 3555 50 3581 00 3537 00 3573 25 9 50 16,591 June 124 425 124 500 122 500 123 125 2150 99,408 Mini Nasdaq 100(CME) $20 x index Lumber (CME) 110,000 bd $ per 1,000 June 35573 35786 3539 0 35733 9 5 348 588 May 336 70 339 00 334 80 335 90 1 40 1,074 Sept 3549 3 3568 0 3534 8 3566 5 9 8 295 July 333 50 334 60 330 10 331 20 2 30 3 126 Mini Russell 2000 (ICE US) SLOOx Index Milk (CME) 200,000 lbs cats per le June 1115 00 1126 70 1103 60 1123 60 7 30 323,263 April 24 27 2432 A 24 27 24 31 01 5,011 1143 00 1143 00 1135 00 1119 30 7 30 75 May 2255 22 73 22 01 22 55 07 5,060 Mini Russell 1000 (ICE US) $100 x index Cocoa (ICE US) 10 metric tons Speeton 1039 40 1048 70 1039 70 1047 10 3 70 9 229 May 2 935 2 983 2,935 2,974 34 744 U S Dollar Index (ICE US) $1,000 x index July 2 951 3 018 2 943 2 930 29 104,113 June 79 87 80 02 79 51 79 53 35 51 335 Coffee (ICE US) 37 500 lbs cats per la Sept 30 02 20 02 79 66 79 67 34 1450 May 207 00 206 40 200 90 203 05 5 85 206 July 210 00 211 20 202 00 205 85 6 05 84,567 Source SIX Financial Information 9128 9097 9078 9086 May June 0023 10,595 8199 8217 June 12187 0002 June 10,00 Sept April sept June

Question

Suppose you sell eight July 2014 silver futures contracts on this day, at the last price of the day  Use Table 23 1 What will your profit or loss be if silver prices turn out to be $19 23 per ounce at expiration  (Do not round intermediate calculations  Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Loss $ 195 What will your profit or loss be if silver prices are $19 09 per ounce at expiration  (Do not round intermediate calculations  Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Profit 975 25 25 25 25 93 81 115,145 June 98 72 99 11 26 827 51,396 4 777 118 1079 150 Futures Contracts   WSJ com commodities Metal   Petroleum Futures Contract Open Open High Na Low Settle chy interest Contract Open Open High bilo Low Settle interest Sugar World (ICE US) 112,000 lb, cunts part Copper High (CMX) 25,000 lbs  $ perib May 17 05 17 35 17 05 17 24 20 19,945 May 30780 3 0835 3 0210 3 0295  0 0430 4,060 July 17 62 17 89 17 61 17 72  15 431 957 July 3 0740 3 0795 3 0150 3 0275  0 0455 98,212 Sugar Domestic (ICE US) 12,000 heunts per lh Gold (CMX) 100 troyce Spar troy July 24 55 24 55 2455 2445 11 3,214 May 1296 00 1296 50 1286 60 1295 60  0 40 608 Nov 24 50 24 85  30 3 182 June 1295 60 1298 40 1284 90 1295 90  0 40 218,906 Cotton (ICE US) 90,000 hects par Aug 1295 50 1297 50 1285 10 1296 00  0 50 51,769 May 9431 94 60 9431 9414  12 605 Oct 1293 00 1298 00 1286 00 1296 10  0 50 10 324 July 94,00 94 58 94 29  23 Dec 1295 10 1297 70 1285 60 1296 20  0 50 27 516 Orange Juice (ICE US) 15,000 lbs, cants per la Dec 15 1296 40 1296 40 1296 40 1299 70  0 20 10,641 May 157 00 157 10 155 20 154 60 miNY Gold (CMX)   90 tray az  Sper troyce  2 40 2 202 July 160 50 161 90 16030 160 60  70 June 15,550 1295 50 1298 25 1285 00 1296 00  0 25 552 Aug 1291 00 1291 00 1291 00 1296 00  0 50 42 Palladium (NYM)  90try as per troyce Interest Rate Futures Sept 302 00 313 70 800 00 Treasury Bonds (CBT) $100,000, 52 of 100  813 45 4 60 4,780 Dec 812 00 812 00 18 0 812 00 813 85 4 60 233 134 130 135 000 133 300 134 300 733,186 Platinum (NYM) 30troy ax  $ per troos  Sept 133 200 134 060 133 050 134 050 18 0 1753 June 1991 10 1417 10 1391 10 1426 90  3 50 Treasury Notes (CBT) $100,000  pts nois at 100  1 July 1430 20 143120 1419 70 1427 90  3 50 60,875 June 123 260 124 135 13,5 2,516,039 Sept 123 025 12 170 Silver (CMX) 5 000 truy es  $ per troy is 122 315 123 170 140 12 648 May 19 435 19 450 19 025 19 119  0 369 2,785 5 Yr  Treasury Notes (CBT) 5100,000 pts 32nds of 2006 July 19 485 19 510 19 060 19 174  0364 100,283 June 119 060 119 027 119 145 9 7 2,078,501 miNY Silver (CMX) 2500 tree Sper troyz Sept 118 090 118 200 10 2 18 585 July 19 438 19 438 19 100 19 175  0 363 124 2 Yr  Treasury Notes (CBT) $200 000  ptsnda of 1004 Sept 19 188 19 188 19 138 19 200  0 375 6 June 109 287 109 305 109 280 109 300 1 5 1,085,118 Crude Oil, Light Sweet (NYM) 1,000 bls  $ per bl  Sopt 109 200 109 202 109 182 109 202 2 0 28 670 June 100 76 100 76 99 34 99 74  1 54 341,594 30 Day Federal Funds (CBT) 59,000,000 100 daily avg  July 100 06 100 06  1 48 192,620 April 99 910 99 913 99 910 99 913 48 635 Aug 99 15 99 16 97,91 98 28  143 101,218 Dec 99 870 99 875 99 865 99 870 Sept 98 24 98 24 97 00 97 39  139 107,875 10 Yr  Int  Rate Swaps (CBT) 5100,000  pts 32nds 100  Dec 95 75 95 98 94 56 94 93  131 214 924 June 101 060 101 250 101 050 101 245 13 5 Dec 15 88 56 88 57 87 73 88 03  0 89 119,044 Month Libor (CME) $5 000,000  pts of 100 Heating Oil No  2 (NYM) 42,000 gal  Spergal May 99 8500 99 8500 99 8500 99 8500 0025 1074 May 2 9650 2 9661 2 9235 2 9349  0352 4,819 July 99,8475 99 8475 A 99 8450 99 8450  0025 521 June 2 9620 2 9620 2 9168 2 9281 0354 95,367 Eurodollar (CME) $1,000,000  pts at 100  Gasoline NY RBOB (NYM)42,000 gal Speegel May 99 7750 99 7775 99 7750 99 7750  0025 30 867 May 3 0589 3 0605 2 9918 3 0077   0557 6,961 March 15 99 6150 99 6350 99 6100 99 6300 0150 1,051313 June 3 0020 3 0055 2 9478 2 9644 0436 123,498 June 99 4300 99,4600 99 4250 99 4550 0250 1,072,829 Natural Gas (NYXO 10,000 MB Spar MMB  Dec 98 9200 98 9650 98 9000 98 9600 0450 1 222 978 June 4 8384852 4 751 4 815  016 190,355 July 4 860 4877 4 843   010 182,707 Currency Futures Sept 4 814 4845 4 742 4 813   007 61,579 Japanese Yen (CME) 112 900 000$ pe 100V Oct 4 831 4 850 4 754 4 818  007 120,745 June  9745  9804 9743  9795 0043 167,682 Jan'15 5 006 5 052 4 965 5 022   010 64,347 June 16  9947  0041 7,000 April 4272 4272 4 217 4 239  015 64,511 Canadian Dollar (CME) CAD 300,000 $ per CAD June 9124  9126 0009 115 458 Agriculture Futures Dec 9080 9091  0009 2,385 Corn(CBT) 5,000 bu, cents per a British Pound (CME) 262,500 per May 515,00 515 50 509 00 514 00  1 75 35,010 June 1 6820 1 6895 A 1 6797 1 6881  0056 234 702 July 520 75 521 50 514 25 519 00  2 50 627,376 Sept 1 6803 1 6880 A 1 6792 1 6868 0055 1 188 Ethanol (CBT) 29 000 gal  $ pergal  Swiss Franc (CME) CHF 125 000 $ per CHF 2 2972314 2 251 2 260 294 June 1 1319 1 1385 11300 1 1369  0048 46 955 2220 2231 2 181 2 186  03 1,838 Sept 1 1326 1 1373 11326 11378 0049 324 Oats (CBT) 5 000 bucets perba  Australian Dollar (CME) AUD 100,000 $pe AUD May 422 00 425 50 411 00 418 50  3 50 328 June  9237  9271 9222  9267 0023 109,395 July 369 00 370 00 358 25 360 50  8 75 4,661 Sept 9189 9211 9166  9209 517 Soybeans (CBT) S OCO,cats per bu  Mexican Peso (CME) MXN 500 000, $ per MXN May 1525 00 1532 00 A 1516,00 1530 75 6 75 16,868 June 07600  07630 07995 07628 00017 127,104 July 1517 25 1517 75 1502 25 1512 75  4 50 313,722 Sept  07553  07553 07553  07573 00017 900 Soybean Meal (CBT) 200 ton  Sperton Euro (CME) 128 000, S per May 501 70 50480 A 499 00 503 90 4 00 June 1 3810 1 3877 1 3768 1 3870  0061 259,078 July 490 90 49430 A 489 20 493 70 2 50 169 405 Sept 1 3806 1 3874 1 3768 13868  0061 11787 Soybean Oil (CBT) 50,000 lbs   omts per lb Euro Japanese Yen (ICE US) 125,000  par May 42 79 42 80 41 69 41 88  89 8,767 June 141 71 141 05 141 09 141 60 2 926 July 42 91 43 00 41 82 42 11   84 166,719 Euro British Pound (ICE US) E125,000 per Rough Rice (CBT) 2 000 wt  $parcwt  June 8212,8241  0009 1 906 May 1555 50 1563 00 1552 50 1561 50  100 276 Euro Swiss Franc (ICE US) 125 000,CHF par July 1556 50 1559 50 1548 00  1555 50 1 50 5,605 1 2197 1 2204 A 12200 415 Wheat (CBT) S 000, perhe May 706 25 716 00 702 25 713 00 5 00 6,501 Index Futures July 715 00 724 75 710 75 721 50 5 00 224,364 DJ Industrial Average (CBT) $10 x index Wheat (KC) S 000 barcats per bu  16061 16525 16433 16511 44 4,931 May 196 50  81100 793 50 809 75 12 50 1,951 July 302 50 815 25 796 75 812 50 Mini DJ Industrial Average (CBT) $5x inds 88 987 June 16460 16526 16432 Wheat (MPLS) 9 000 ba, mts per bu  16511 44 121 623 Sept 16394 16443 16378 16440 44 141 May 746 50 758 50 742 75 757 00 9 75 1,161 S P 500 Index (CME) $250 x index July 760 00 77125 A 756 25 768 75 7 50 35,513 June 1870 40 1880 20 1856 50 1877 90 6 10 Cattle Feeder (CME) 50,000 lbs  ontspeelt 129,199 1865 40 1872 40 1860 40 1870 50 6 10 1871 May 180 600 181 425 179 900 181 200 625 8,202 Mini S P 500(CME) $50 x index Aug 186 800 187 900 A 186 250 187 475  925 23,690 June 1870 50 1880 25 1856 25 1878 00 6 25 2,835,160 Cattle Live (CME) 40,000 lbs  cents per la Sept 1363 25 1872 75 1859 25 1870 50 6 00 14711 145   400 148 500 144 900 145 825 325 963 Mini S P Midcap 400 (CME) $100 x index June 137 175 137 725 136 575 137 200 175 173,780 June 1344 70 1354 80 1337 80 1353 10 7 90 87 449 Hogs Lean (CME) 40,000 the cents per ll, Nasdaq 100(CME) $100 x Index May 118 675 119 000 117 275 117 675  2 600 2,854 June 3555 50 3581 00 3537 00 3573 25 9 50 16,591 June 124 425 124 500 122 500 123 125 2150 99,408 Mini Nasdaq 100(CME) $20 x index Lumber (CME) 110,000 bd    $ per 1,000    June 35573 35786 3539 0 35733 9 5 348 588 May 336 70 339 00 334 80 335 90  1 40 1,074 Sept 3549 3 3568 0 3534 8 3566 5 9 8 295 July 333 50 334 60 330 10 331 20  2 30 3 126 Mini Russell 2000 (ICE US) SLOOx Index Milk (CME) 200,000 lbs cats per le June 1115 00 1126 70 1103 60 1123 60 7 30 323,263 April 24 27 2432 A 24 27 24 31 01 5,011 1143 00 1143 00 1135 00 1119 30 7 30 75 May 2255 22 73 22 01 22 55  07 5,060 Mini Russell 1000 (ICE US) $100 x index Cocoa (ICE US) 10 metric tons Speeton  1039 40 1048 70 1039 70 1047 10 3 70 9 229 May 2 935 2 983 2,935 2,974 34 744 U S  Dollar Index (ICE US) $1,000 x index July 2 951 3 018 2 943 2 930 29 104,113 June 79 87 80 02 79 51 79 53   35 51 335 Coffee (ICE US) 37 500 lbs cats per la Sept 30 02 20 02 79 66 79 67   34 1450 May 207 00 206 40 200 90 203 05  5 85 206 July 210 00 211 20 202 00 205 85  6 05 84,567 Source  SIX Financial Information 9128 9097  9078  9086 May June 0023 10,595 8199 8217 June 12187 0002 June 10,00 Sept April sept June Suppose you sell eight July 2014 silver futures contracts on this day, at the last price of the day  Use Table 23 1 What will your profit or loss be if silver prices turn out to be $19 23 per ounce at expiration  (Do not round intermediate calculations  Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Loss $ 195 What will your profit or loss be if silver prices are $19 09 per ounce at expiration  (Do not round intermediate calculations  Enter your answer as a positive value rounded to the nearest whole number, e g , 32 ) Profit 975 25 25 25 25 93 81 115,145 June 98 72 99 11 26 827 51,396 4 777 118 1079 150 Futures Contracts   WSJ com commodities Metal   Petroleum Futures Contract Open Open High Na Low Settle chy interest Contract Open Open High bilo Low Settle interest Sugar World (ICE US) 112,000 lb, cunts part Copper High (CMX) 25,000 lbs  $ perib May 17 05 17 35 17 05 17 24 20 19,945 May 30780 3 0835 3 0210 3 0295  0 0430 4,060 July 17 62 17 89 17 61 17 72  15 431 957 July 3 0740 3 0795 3 0150 3 0275  0 0455 98,212 Sugar Domestic (ICE US) 12,000 heunts per lh Gold (CMX) 100 troyce Spar troy July 24 55 24 55 2455 2445 11 3,214 May 1296 00 1296 50 1286 60 1295 60  0 40 608 Nov 24 50 24 85  30 3 182 June 1295 60 1298 40 1284 90 1295 90  0 40 218,906 Cotton (ICE US) 90,000 hects par Aug 1295 50 1297 50 1285 10 1296 00  0 50 51,769 May 9431 94 60 9431 9414  12 605 Oct 1293 00 1298 00 1286 00 1296 10  0 50 10 324 July 94,00 94 58 94 29  23 Dec 1295 10 1297 70 1285 60 1296 20  0 50 27 516 Orange Juice (ICE US) 15,000 lbs, cants per la Dec 15 1296 40 1296 40 1296 40 1299 70  0 20 10,641 May 157 00 157 10 155 20 154 60 miNY Gold (CMX)   90 tray az  Sper troyce  2 40 2 202 July 160 50 161 90 16030 160 60  70 June 15,550 1295 50 1298 25 1285 00 1296 00  0 25 552 Aug 1291 00 1291 00 1291 00 1296 00  0 50 42 Palladium (NYM)  90try as per troyce Interest Rate Futures Sept 302 00 313 70 800 00 Treasury Bonds (CBT) $100,000, 52 of 100  813 45 4 60 4,780 Dec 812 00 812 00 18 0 812 00 813 85 4 60 233 134 130 135 000 133 300 134 300 733,186 Platinum (NYM) 30troy ax  $ per troos  Sept 133 200 134 060 133 050 134 050 18 0 1753 June 1991 10 1417 10 1391 10 1426 90  3 50 Treasury Notes (CBT) $100,000  pts nois at 100  1 July 1430 20 143120 1419 70 1427 90  3 50 60,875 June 123 260 124 135 13,5 2,516,039 Sept 123 025 12 170 Silver (CMX) 5 000 truy es  $ per troy is 122 315 123 170 140 12 648 May 19 435 19 450 19 025 19 119  0 369 2,785 5 Yr  Treasury Notes (CBT) 5100,000 pts 32nds of 2006 July 19 485 19 510 19 060 19 174  0364 100,283 June 119 060 119 027 119 145 9 7 2,078,501 miNY Silver (CMX) 2500 tree Sper troyz Sept 118 090 118 200 10 2 18 585 July 19 438 19 438 19 100 19 175  0 363 124 2 Yr  Treasury Notes (CBT) $200 000  ptsnda of 1004 Sept 19 188 19 188 19 138 19 200  0 375 6 June 109 287 109 305 109 280 109 300 1 5 1,085,118 Crude Oil, Light Sweet (NYM) 1,000 bls  $ per bl  Sopt 109 200 109 202 109 182 109 202 2 0 28 670 June 100 76 100 76 99 34 99 74  1 54 341,594 30 Day Federal Funds (CBT) 59,000,000 100 daily avg  July 100 06 100 06  1 48 192,620 April 99 910 99 913 99 910 99 913 48 635 Aug 99 15 99 16 97,91 98 28  143 101,218 Dec 99 870 99 875 99 865 99 870 Sept 98 24 98 24 97 00 97 39  139 107,875 10 Yr  Int  Rate Swaps (CBT) 5100,000  pts 32nds 100  Dec 95 75 95 98 94 56 94 93  131 214 924 June 101 060 101 250 101 050 101 245 13 5 Dec 15 88 56 88 57 87 73 88 03  0 89 119,044 Month Libor (CME) $5 000,000  pts of 100 Heating Oil No  2 (NYM) 42,000 gal  Spergal May 99 8500 99 8500 99 8500 99 8500 0025 1074 May 2 9650 2 9661 2 9235 2 9349  0352 4,819 July 99,8475 99 8475 A 99 8450 99 8450  0025 521 June 2 9620 2 9620 2 9168 2 9281 0354 95,367 Eurodollar (CME) $1,000,000  pts at 100  Gasoline NY RBOB (NYM)42,000 gal Speegel May 99 7750 99 7775 99 7750 99 7750  0025 30 867 May 3 0589 3 0605 2 9918 3 0077   0557 6,961 March 15 99 6150 99 6350 99 6100 99 6300 0150 1,051313 June 3 0020 3 0055 2 9478 2 9644 0436 123,498 June 99 4300 99,4600 99 4250 99 4550 0250 1,072,829 Natural Gas (NYXO 10,000 MB Spar MMB  Dec 98 9200 98 9650 98 9000 98 9600 0450 1 222 978 June 4 8384852 4 751 4 815  016 190,355 July 4 860 4877 4 843   010 182,707 Currency Futures Sept 4 814 4845 4 742 4 813   007 61,579 Japanese Yen (CME) 112 900 000$ pe 100V Oct 4 831 4 850 4 754 4 818  007 120,745 June  9745  9804 9743  9795 0043 167,682 Jan'15 5 006 5 052 4 965 5 022   010 64,347 June 16  9947  0041 7,000 April 4272 4272 4 217 4 239  015 64,511 Canadian Dollar (CME) CAD 300,000 $ per CAD June 9124  9126 0009 115 458 Agriculture Futures Dec 9080 9091  0009 2,385 Corn(CBT) 5,000 bu, cents per a British Pound (CME) 262,500 per May 515,00 515 50 509 00 514 00  1 75 35,010 June 1 6820 1 6895 A 1 6797 1 6881  0056 234 702 July 520 75 521 50 514 25 519 00  2 50 627,376 Sept 1 6803 1 6880 A 1 6792 1 6868 0055 1 188 Ethanol (CBT) 29 000 gal  $ pergal  Swiss Franc (CME) CHF 125 000 $ per CHF 2 2972314 2 251 2 260 294 June 1 1319 1 1385 11300 1 1369  0048 46 955 2220 2231 2 181 2 186  03 1,838 Sept 1 1326 1 1373 11326 11378 0049 324 Oats (CBT) 5 000 bucets perba  Australian Dollar (CME) AUD 100,000 $pe AUD May 422 00 425 50 411 00 418 50  3 50 328 June  9237  9271 9222  9267 0023 109,395 July 369 00 370 00 358 25 360 50  8 75 4,661 Sept 9189 9211 9166  9209 517 Soybeans (CBT) S OCO,cats per bu  Mexican Peso (CME) MXN 500 000, $ per MXN May 1525 00 1532 00 A 1516,00 1530 75 6 75 16,868 June 07600  07630 07995 07628 00017 127,104 July 1517 25 1517 75 1502 25 1512 75  4 50 313,722 Sept  07553  07553 07553  07573 00017 900 Soybean Meal (CBT) 200 ton  Sperton Euro (CME) 128 000, S per May 501 70 50480 A 499 00 503 90 4 00 June 1 3810 1 3877 1 3768 1 3870  0061 259,078 July 490 90 49430 A 489 20 493 70 2 50 169 405 Sept 1 3806 1 3874 1 3768 13868  0061 11787 Soybean Oil (CBT) 50,000 lbs   omts per lb Euro Japanese Yen (ICE US) 125,000  par May 42 79 42 80 41 69 41 88  89 8,767 June 141 71 141 05 141 09 141 60 2 926 July 42 91 43 00 41 82 42 11   84 166,719 Euro British Pound (ICE US) E125,000 per Rough Rice (CBT) 2 000 wt  $parcwt  June 8212,8241  0009 1 906 May 1555 50 1563 00 1552 50 1561 50  100 276 Euro Swiss Franc (ICE US) 125 000,CHF par July 1556 50 1559 50 1548 00  1555 50 1 50 5,605 1 2197 1 2204 A 12200 415 Wheat (CBT) S 000, perhe May 706 25 716 00 702 25 713 00 5 00 6,501 Index Futures July 715 00 724 75 710 75 721 50 5 00 224,364 DJ Industrial Average (CBT) $10 x index Wheat (KC) S 000 barcats per bu  16061 16525 16433 16511 44 4,931 May 196 50  81100 793 50 809 75 12 50 1,951 July 302 50 815 25 796 75 812 50 Mini DJ Industrial Average (CBT) $5x inds 88 987 June 16460 16526 16432 Wheat (MPLS) 9 000 ba, mts per bu  16511 44 121 623 Sept 16394 16443 16378 16440 44 141 May 746 50 758 50 742 75 757 00 9 75 1,161 S P 500 Index (CME) $250 x index July 760 00 77125 A 756 25 768 75 7 50 35,513 June 1870 40 1880 20 1856 50 1877 90 6 10 Cattle Feeder (CME) 50,000 lbs  ontspeelt 129,199 1865 40 1872 40 1860 40 1870 50 6 10 1871 May 180 600 181 425 179 900 181 200 625 8,202 Mini S P 500(CME) $50 x index Aug 186 800 187 900 A 186 250 187 475  925 23,690 June 1870 50 1880 25 1856 25 1878 00 6 25 2,835,160 Cattle Live (CME) 40,000 lbs  cents per la Sept 1363 25 1872 75 1859 25 1870 50 6 00 14711 145   400 148 500 144 900 145 825 325 963 Mini S P Midcap 400 (CME) $100 x index June 137 175 137 725 136 575 137 200 175 173,780 June 1344 70 1354 80 1337 80 1353 10 7 90 87 449 Hogs Lean (CME) 40,000 the cents per ll, Nasdaq 100(CME) $100 x Index May 118 675 119 000 117 275 117 675  2 600 2,854 June 3555 50 3581 00 3537 00 3573 25 9 50 16,591 June 124 425 124 500 122 500 123 125 2150 99,408 Mini Nasdaq 100(CME) $20 x index Lumber (CME) 110,000 bd    $ per 1,000    June 35573 35786 3539 0 35733 9 5 348 588 May 336 70 339 00 334 80 335 90  1 40 1,074 Sept 3549 3 3568 0 3534 8 3566 5 9 8 295 July 333 50 334 60 330 10 331 20  2 30 3 126 Mini Russell 2000 (ICE US) SLOOx Index Milk (CME) 200,000 lbs cats per le June 1115 00 1126 70 1103 60 1123 60 7 30 323,263 April 24 27 2432 A 24 27 24 31 01 5,011 1143 00 1143 00 1135 00 1119 30 7 30 75 May 2255 22 73 22 01 22 55  07 5,060 Mini Russell 1000 (ICE US) $100 x index Cocoa (ICE US) 10 metric tons Speeton  1039 40 1048 70 1039 70 1047 10 3 70 9 229 May 2 935 2 983 2,935 2,974 34 744 U S  Dollar Index (ICE US) $1,000 x index July 2 951 3 018 2 943 2 930 29 104,113 June 79 87 80 02 79 51 79 53   35 51 335 Coffee (ICE US) 37 500 lbs cats per la Sept 30 02 20 02 79 66 79 67   34 1450 May 207 00 206 40 200 90 203 05  5 85 206 July 210 00 211 20 202 00 205 85  6 05 84,567 Source  SIX Financial Information 9128 9097  9078  9086 May June 0023 10,595 8199 8217 June 12187 0002 June 10,00 Sept April sept June

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Suppose you sell eight July 2014 silver futures contracts on this day, at the last price of the day. Use Table 23.1 What will your

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