Question
The following list describes trades by a given individual in March Silver futures contract. Each contract size is 5000 troy ounces. Jan. 31: trade 1:
The following list describes trades by a given individual in March Silver futures contract. Each contract size is 5000 troy ounces.
Jan. 31: trade 1: open 2 long position @ futures price $27.055
trade 2: open 5 long positions @ futures price $28.350
Feb. 1: trade 1: close 1 position @ futures price $28.460
trade 2: open 1 long position @ futures price $28.335
trade 3: close 3 position @ futures price $ 29.575
Feb. 2: trade 1: close 2 position @ futures price $28.750
trade 2: open 3 long position @ futures price $26.875
Open | High | Low | Settlement | |
Jan. 31 | 27.055 | 29.223 | 27.055 | 28.820 |
Feb. 1 | 28.425 | 30.350 | 28.155 | 29.418 |
Feb. 2 | 28.650 | 29.023 | 26.355 | 26.780 |
Based on the price information in the table above, calculate the daily gain/loss to the traders margin account due to marking to market for Jan. 31, Feb.1and Feb. 2. (9 points)
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