Suppose you sell seven May 2018 silver futures contracts on March 27, 2018, at the last price of the day. Use Table 25.2. a. What will your profit or loss be if silver prices turn out to be $16.71 per ounce at expiration? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What will your profit or loss be if silver prices are $16.33 per ounce at expiration? (Enter your answer as a positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a. Net loss b. Net gain Table 25.2 Futures Contracts Quote, March 28, 2018 SOURCE: The Wall Street Journal, March 28, 2018, www.wsj.com. Futures Contracts Open Contract Opon High hilo Low Settle Chg Interest Sugar-World (CE-US)-112,000 lbs:cents per b Open Settle Chg interest May July 12.42 12.58 12.63 12.72 12.35 12.54 12.54 12.66 12 417,923 -10 236,270 Sugar-Domestic (CE-US)-112,000 lbs.cents per b Open High hilo Low Copper-High (CMX)-25,000 lbs. Sperib 2.9760 2.9775 2.9940 3.0240 -.03 3,218 March 29760 2.9775 2.9915 0.0310 302 3.0005 0.0305 150,761 May July 24.45 24.45 24.45 24.45 25.05 25.05 24.91 25.02 -13 2,674 May Cotton OCE-US)-50,000 lbs: cents per b Gold (CMX)-100 troy oz. $ per troy az March May Dec 81.88 92.77 77.50 77.92 81.72 82.02 77.50 77.62 24 113.430 -04 72,650 - Apri Orange Juice (ICE-US)-15,000 lbs.cents per b June Aug 1353.60 1356.80 1359.30 1362.60 1365.80 1368.20 1371.00 1372.00 475 - 1341.30-13.10 1339.60 1342.00-13.00 108,630 1345.40 1347.90 -13.00 327,650 1351.90 1354.10 -13.00 49,357 May 1359.00 1360.10 -13.00 6,801 July 1364.20 1366.60 -13.10 45,274 138.10 138.35 138.40 138.60 136.20 137.70 -20 9,537 137.00 138.00 1.90 1,977 Oct Dec 1376.80 1380.90 Palladium (NYM)-50 troy az: $ per troy oz March June 970.80 978.85 975.30 4,95 1 966.60 971.30 4.95 4.95 22,978 965.00 966.65 4.95 1,193 Platinum (NYM)-50 troy oz: Sper troy oz. Sept 967.10 968.10 29.0 793,328 30.0 78 Apri 952.80 961.60 939.20 945.00 946.70 -3.70 12,588 952.40 -4.00 61,898 July 958.50 967.40 Interest Rate Futures Treasury Bonds (CBT)-$100,000 pts 32nds of 100% June 144-140 145-280 144-110 145-200 Sept 143-280 144-150 143-280 144-210 Treasury Notes (CBT) $100,000.pts 32nds of 100% 120-120 121-015 June 120-110 120-290 14.0 3,490,478 Sept 120-090 120-195 120-010 120-205 14.5 454 5Yr. Treasury Notes (CBT)-$100,000 pts 32nds of 100% March 114-162 114-162 114-160 114-215 June 114-015 114-145 114-007 114-120 2 Yr. Treasury Notes (CBT)-$200,000. pts 32nds of 100% March 106-177 106-187 June Silver (CMX)-5,000 troy oz. Spertroy oz March 16.465 16.489 -0.143 34 May 16.690 16.810 16.541 -0.143 149,163 Crude Oll, Light Sweet (NYM)-1000 bbis:S per bbl May 9.2 2,819 9.0 3,366,565 65.55 66.41 17 11,641 June 65.47 66.27 106-172 106-185 106-072 106-107 106-077 106-117 2.7 1,889,733 July 65.09 65.88 64.17 64.53 65.25 -0.30 512,488 64.49 65.18-0.23 347,725 64.86 -0.17 156,042 63.83 -0.09 170,143 0.01 251,898 0.15 133,839 30 Day Federal Funds (CBT)-$5,000,000,100-daily avg. Sept 64.00 64.71 63.25 98.498 98.498 Dec 62.35 63.05 March April 61.68 62.29 57.14 57.67 57.67 98.500 98.500 98.325 98.325 ..122,332 -364,065 Dec 19 58.11 A 57.52 NY Harbor ULSD ONYM)-42000 gal:$pergal April 2.0170 2.0460 May 2.0199 2.0485 June 20050 2.0224 2.0065 2.0242 0074 25,793 0062 128,061 98.320 98.325 10 Yr. Del. Int. Rate Swaps (CBT) $100,000 pts 32nds of 100% 93.969 94.781 A 93.969 94.625 563 27,183 1Month Libor (CME)-$3,000,000 pts of 100% May June Gasoline-NY RBOB ONYM)-42000 gal: $ pergal Apri 20110 2.0330 19987 2.0135 May 2.0199 20426 2.0060 2.0210 Natural Gas (NYM)-10,000 MMBtu: $ per MMBtu 0031 25,530 0007 160,898 98.1000 98.1000 98.1000 98.1025 0175 1,411 97.9550 97.9600 97.9550 97.9475 0175 694 Eurodollar (CME)-$1,000,000 pts of 100% 97.7200 97.7450 97.6800 97.7400 97.4750 97.5500 97.1350 97.2350 Apri 2.629 2.707 2.623 2.691 April June Dec Dec 19 073 5,560 97.7200 97.7400 97.6800 97.7300 97,4700 97.5400 97.1300 97.2200 0200 303,879 0500 1,777,799 0600 2,045,195 0800 2,167,522 May 2.669 2721 2.660 2.714 057 389,906 June 2.728 2.774 050 93,399 2.719 2.780 2.766 2.822 July 2.789 2.830 Currency Futures 2.788 2.829 2.782 2.823 045 154,195 039 96,749 040 130,534 Sept Oct 2.805 2.842 2.795 2.836 Japanese Yen (CME)-V12.500.000, Sper 100% Aprill 9488 9500 9460 June 9527 9546 9494 Canadian Dollar (CME) CAD 100,000 $per CAD 9489-0030 851 9528-0030 168,978 Corn (CBT)-5,000 bu:cents perbu April May 374.00 376.00 372.25 374.00 380.75 382.50 655,498 484,252 7760 3761 June 7770-0005 249 7778-0006 121,883 July 382.50 384.50 Oats (CBT)-5,000 bu.cents per bu May 227.75 228.75 236.50 236.50 225.50 226.00