Suppose you sell seven April 2017 gold futures contracts on this day, at the last price of the day. Use Table 23.1 a. What will your profit or loss be if gold prices turn out to be $1,243.80 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.) b. What will your profit or loss be if gold prices are $1,233.60 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) a. b. Profit LOSS Open interest 672 120,434 1,387 288,888 63.531 18,296 T 29.516 4.419 TABLE 23.1 Sample Wall Street Journal Futures Price Quotations Metal & Petroleum Futures Contract Open High hilo Low Settle Chg Copper-High (CMX)-25,000 lbs; $ per lb. Feb 2.6735 2.6735 2.6715 2.6480 -0.0125 March 2.6660 2.6765 2.6410 2.6535 -0.0130 Gold (CMX)-100 troy oz; $ per troy oz. Feb 1239.40 1243-50 1226.90 1235.10 -2.50 April 1242.70 1246.20 1226.10 1236.80 -2.70 June 1246.10 1249.00 1230.00 1240.00 -2.70 Aug 1250.10 1252.00 1235.10 1243.10 -2.80 Dec 1254.00 1256.90 1239.00 1249.20 -2.70 June 18 1266.00 1266.00 1254.80 1259.00 -2.50 Palladium (NYM)-50 troy oz; $ per troy oz. Feb 732.85 732.85 732.85 772.60 2.80 March 770.60 778.80 768.00 772.55 2.80 June 771.00 780.00 770.40 774.00 2.85 Sept 775-30 777.00 775.10 775.00 3.60 Platinum (NYM)-50 troy oz; $ per troy oz Feb 978.80 979.10 978.80 1019.20 2.80 April 1019.60 1032.10 1016.20 1022.20 2.80 Silver (CMX)-5,000 troy oz.; $ per troy oz. Feb 17.750 17.815 17.750 17.720 0.037 March 17.780 17.845 17.615 17.741 0.036 Crude Oil, Light Sweet (NYM)-1,000 bbls; $ per bbl. March 52.37 53.21 52.37 53.00 0.66 April 52.98 53.70 52.95 53.46 0.55 May 53.42 54.10 53.41 53.88 0.51 June 53.90 54.45 53.90 54.25 0.49 22,948 6.503 17 42 59,479 i 179 113.427 C 385,634 280,780 192,554 264,679 Dee 0.49 55-35 54.79 54.794 55.21 229,809 0.37 111.505 111,133 .0055 .0059 72,273 .0175 112,099 .0122 85-512 .015 197,215 .013 146,224 .017 137.143 3.298 .019 79.485 3-380 .020 79.579 .020 93.442 Dec 18 55.10 55-50 55.04 55-32 NY Harbor ULSD (NYM)-42,000 gal; $ per gal. March 1.6360 1.6624 1.6345 1.6415 April 1.6443 1.6693 1.6435 1.6500 Gasoline-NY RBOB (NYM)-42,000 gal; $ per gal. March 1.5510 1.5811 1.5471 1.5702 April 1.7600 1.7800 1.7575 1.7741 Natural Gas (NYM)-10,000 MMBtu; $ per MMBtu. March 3.143 3.189 3.110 3.141 April 3.212 3.253 3.179 3.209 May 3.269 3-311 3.240 3.272 June 3339 3-365 3-330 July 3.385 3.413 3-350 Oct 3-385 3.423 3.358 3.392 Agriculture Futures Corn (CBT)-5,000 bu; cents per bu. March 369.50 372.75 367.50 369.50 May 377.25 380.25 375.25 377.25 Oats (CBT)-5,000 bu; cents per bu. March 256.00 257.50 250.00 254-50 May 248.25 254.00 246.00 253.00 Soybeans (CBT)-5,000 bu; cents per bu. March 1057.00 1061.50 1045.00 1050.50 May 1067.25 1071.50 1055-50 1061.50 Soybean Meal (CBT)-100 tons; $ per ton. March 340.70 341.60 335.90 338.40 May 344.80 345.80 340.10 342.60 Soybean (CBT)-60,000 lbs; cents per lb. March 34.67 34.98 34.47 34.67 May 34.96 35.26 34.76 34.95 -1.25 500,405 346,739 -1.25 4.155 -50 3.00 3.027 -8.25 248,998 --7-75 210.368 -2.80 126,399 122,484 -2.70 -.02 123.991 --03 118,319 947.50 -8.00 9,388 972.50 -8.50 2.516 443-50 11.00 179,982 455.25 11.75 137.497 451.25 9.25 71,740 475.00 8.50 69.377 11.00 24.788 568.50 566.50 9.25 29.537 123.625 1.325 19.575 124.050 1.075 10.511 Rough Rice (CBT)-2,000 cwt; $ per cwt. March 953.00 960.50 942.00 May 978.50 984.50 968.00 Wheat (CBT)-5,000 bu.; cents per bu. March 430.50 444.00 A 429.50 May 442.00 455-50 440.75 Wheat (KC)-5,000 bu; cents per bu. March 440.25 451.75 438.25 July 465.25 475.25 462.75 Wheat (MPLS)-5,000 bu; cents per bu. March 557-50 569.50 556.00 May 556.75 567.00 555.50 Cattle-Feeder (CME)-50,000 lbs.; cents per lb. March 122.525 123.800 121.900 April 123.250 124.200 122.450 Cattle-Live (CME)-40,000 lbs; cents per lb. Feb 117.250 117.750 116.775 April 115.000 115.175 114.125 Hogs-Lean (CME)-40,000 lbs; cents per lb. Feb 73.900 74.500 73.550 April 72.125 72.250 70.625 Lumber (CME)-110.000 bd. ft., $ per 1,000 bd. ft. March 381.70 381.70 A 373.80 May 379.60 381.70 375.90 Milk (CME)-200,000 lbs.; cents per lb. Feb 16.87 16.89 16.79 March 16.91 17.03 16.73 Cocoa (ICE-US)-10 metric tons; $ per ton. Ma 1,993 2,018 1,969 May 2,008 2,038 1,988 Coffee (ICE-US)-37.500 lbs; cents per lb. .875 17.410 117.650 114.825 .075 144.593 74.225 .875 14,671 104,603 70.775 --950 375.40 3.50 2,698 378.40 2.60 1,541 4.180 16.85 16.97 .03 4.392 1,974 -19 35,455 7 1,996 -15 105,293 2.30 43.558 2.30 73.254 -.11 220.619 -.08 224,526 07 946 1.768 -33 104.332 .22 97.772 1.00 7.438 .60 3.434 March 143.40 145.70 142.85 145.20 May 145.95 148.05 145.25 147.60 Sugar-World (ICE-US)-112,000 lbs; cents per lb. March 20.74 21.03 20.62 20.65 May 20.72 20.97 20.61 20.65 Sugar-Domestic (ICE-US)-112,000 lbs; cents per lb. May 30.40 30.40 30.40 30.32 July 30.40 30.40 30.39 30.40 Cotton (ICE-US)-50,000 lbs; cents per lb. March 75.43 76.13 75.25 75-58 May 76.40 77.30 76.40 76.65 Orange Juice (ICE-US)-15,000 lbs; cents per lb. March 172.65 175.00 171.55 174.00 May 167.80 169.75 166.80 168.75 Interest Rate Futures Treasury Bonds (CBT)-$100,000; pts 32nds of 100% March 153-160 153-170 151-310 152-060 June 152-060 152-060 150-240 150-300 Treasury Notes (CBT)-$100,000; pts 32nds of 100% March 125-155 125-155 124-270 124-295 June 124-265 124-270 124-105 124-120 5 Yr. Treasury Notes (CBT)-$100,000; pts 32 nds of 100% March 118-132 118-132 118-012 118-025 June 118-015 118-015 117-230 117-235 2 Yr. Treasury Notes (CBT)-$200,000; pts 32nds of 100% March 108-170 108-172 108-142 108-147 June 108-060 108-060 108-060 108-055 30 Day Federal Funds (CBT)-$5,000,000; 100-daily avg. Feb 99.343 99.345 99.343 99-342 April 99.315 99-320 A 99.305 99-310 10 Yr. Del. Int. Rate Swaps (CBT)-$100,000; pts 32nds of 100% 622,929 -1-030 --1-030 2.310 -14.0 3,169.794 68,648 - 14.5 -8.5 3,119.541 -9.0 137,090 -2.0 1,349,070 8,979 -2.5 -.001 100,104 -.005 373,852 94-438 -438 31,717 94.766 4.896 --.0025 83,716 -.0100 1,455.611 -.0200 1,434.355 - 0300 1,350,776 -.0097 -.0096 191,960 9,846 .0011 115.305 0011 2,625 94.359 March 94.703 1 Month Libor (CME)-$3,000,000; pts of 100% Feb 99.2275 Eurodollar (CME)-$1,000,000; pts of 100% Feb 98.9650 98.9650 98.9625 98.9625 March 98.9450 98.9450 98.9300 98.9350 June 98.8000 98.8000 98.7750 98.7800 Dec 98.5400 98.5450 98.5000 98.5050 Currency Futures Japanese Yen (CME)- 12,500,000; $ per 100 Y March .8948 .8949 .8829 .8834 June .8982 .8986 .8868 .8872 Canadian Dollar (CME)-CAD 100.000; $ per CAD March -7610 .7639 .7596 .7614 June .7619 -7646 -7604 -7622 British Pound (CME)-62,500; $ per March 1.2544 1.2589 1.2497 1.2502 June 1.2563 1.2616 1.2527 1.2531 Swiss Franc (CME)-CHF 125,000; $ per CHF March 1.0066 1.0079 .9995 .9999 June 1.0100 1.0136 1.0055 1.0058 Australian Dollar (CME)-AUD 100,000; $ per AUD March -7636 -7659 -7605 -7622 June 7617 .7641 .7589 -7605 Sept -7576 -7611 -7576 -7593 Mexican Peso (CME)-MXN 500,000; $ per MXN March .04861 .04904 .04847 .04879 June .04791 .04837 .04782 .04811 Euro (CME)-125,000; $ per March 1.0706 1.0721 1.0662 1.0670 1.0746 1.0770 1.0712 -.0031 208.495 1,661 -.0032 47.842 -.0064 -.0064 180 -.0004 115.779 -.0004 1,205 -.0004 688 .00018 142,828 .00018 47.992 -.0029 June 391,573 1.0720 -0020 1072 20136 126,519 134 136 20073 893 2304-30 14.10 68,270 2299.10 14.20 1.259 14.00 2304.25 2299.00 2,882.114 36,548 14.00 Index Futures Mini DJ Industrial Average (CBT)-$5 x index March 20010 20158 19982 June 19921 20093 A 19921 S&P 500 Index (CME)-$250 x index March 2290.70 2307-50 2288.30 June 2295-50 2302.90 A 2295.50 Mini S&P 500 (CME)-$50 x index March 2290.50 2307.75 A 2287.75 June 2285.00 2302.75 A 2282.50 Mini S&P Midcap 400 (CME)-$100 x index March 1694.30 1712.80 1691.70 Mini Nasdaq 100 (CME)-$20 x index March 5189.8 5219.3 5186.3 June 5193-3 5217.8 5186.0 Mini Russell 2000 (ICE-US)-$100 x index March 1356.50 1380.10 1354.60 June 1357.30 1375.70 1357.30 Mini Russell 1000 (ICE-US)-$100 x index March 1275.10 1282.10 1274.60 U.S. Dollar Index (ICE-US)-$1,000 x index March 100.24 100.67 100.08 June 100.22 100.58 100.05 1709.70 16.30 94.526 5212.3 21.0 233,819 A 5211.3 21.0 621 1377.00 21.00 613.166 1374-30 21.00 540 1280.60 8.50 7,872 -38 69,426 100.65 100.56 36 2,792 Sources: SIX Financial Information; The Wall Street Journal, February 10, 2017