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The price of a commodity is $49.83. You buy a newly-issued futures contract that matures six months from now at a price of $51.03. One
The price of a commodity is $49.83. You buy a newly-issued futures contract that matures six months from now at a price of $51.03. One month from now, the price of the underlying commodity is $55.92 and newly-issued futures contracts are priced at $57.38. If the contract is marked-to-market every month, then what is the dollar change in your account based on marking-to-market for the first month? Write a positive number for a gain and a negative number for a loss. Go to the nearest penny.
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