 Turn to the S&P 500 contract in Figure 22.1. Assume the closing price for this day. |
| a. | If the margin requirement is 19% of the futures price times the multiplier of $250, how much must you deposit with your broker to trade the March maturity contract? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) |
| Required margin deposit | $ |
| b. | If the March futures price were to increase to 1,499.23, what percentage return would you earn on your net investment if you entered the long side of the contract at the price shown in the figure? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "%" sign in your response.) |
| Percentage return on net investment | % |
| c. | If the March futures price falls by 1%, what is your percentage return? (Negative amount should be indicated by a minus sign. Omit the "%" sign in your response.) |
| Percentage return on net investment | % |
Serfe Corhod May 15375 1542 149.10 50 -3.85 29315 6580 36760 3.6520 645-00065 Moch 3.672516965 3.6610 16765-0.0080 102,266 Apri 1?.40 1688.10 1666.40 1672.10-16.30 149,804 1688.10 168960 166950 1674.20160 3B,88 1659.00 1689.00 167060 1700 0 28 Cotfon 1694.7016900 1674,40 16M.60-16.30 26,355 oy 1609.50??90201673.10 167770-16.30 11,949 Mach 115.60 116.0 113.00 1320 -240 4,247 1655 117.40 11430 30-2.20 1654.25 184.50 1664.75 1670.00 -1670 2282 Aprd 1 .50 ???84.00 1667.75 1672.00-16.50 in. 1684.00 ??400 1674,50 167425-1675 -725.20 72880 716,60 72170 0.50 30AS4 March, 146050146-150, 145090 145170-4,0 Mils 1.4BD J"ne 144-170144 143300 120-4.0 747 Treasury Notes (GTsiq: pts 32nkof 100% Mach 13220 132175 131315 12-05-20 1,865,707 1.3 June 131-125??1-130 131-100 ??-060-2.0 24,,269 Feb 1673.0016804) 1673.00 -8.00 17 liach 124062 12 02 124-120 124060-1.0 1.577.946 a 31735 31.7 31735 31.695-0.71 ko. 32.2403224531.605 31722-0.717 78,66 lass 12?? 12320, isas -11 - .- . 32.138 32.438 ? 31.613 ?725-0.714 ii June 110-070 110075 110465 110-067 Ser 32.03? 32008 32.038 31875-0.717 Aged 95A9 9716 5560 96.45 0.30 102,709 10kInt. Rate Swaps CRDSI00,000, ptanti100% %.M 9758 %.00 96.90 0.59 86.130 March 118.922.118.922 118.422 118.609-079 9349 96.42 97.57.96.32 ii in 38,2721-lhe eo BS3,000,000;md10s 96.08 9758 ?96.07 97 07 0J1 51,513 3,622 %,10 %.96 %.04 96? 0A9 41,212 0958 3.0693 31864 .003 46,2% Moch 997000 997050 99.7000 91000 Morh 3.0674 8 3056 12 3425 me99 6850 99 4850 99.6800 99800 Month 2.94?28882 ? 2.R316 2E767 .w8 121,519 3A46-108 47,521 Mach 1.12% 1.1313 ,'1.1045 LI119-.0163 20.630 991 3.569 198 3.447 3454 -D99 320,563Jan. 1.130 1.110 LIIS L?ID-SIA 3597 3613 .482 3490091 59,548 3804 356 303 3715-0H0 104406 9970 .9978 ? .9%34 8-.0086 2,204 a14 4218 4219 4.123 4135 -068 78,522 Mach 1.5828 1.58481.5752 15787-0049 182 June 1.503015837 ? 1.5750 LS781-0049 236 Swiss Franc (CME CHF 125,000SprCHF Australan Dollar AD 100,000; SpecW ach 1.0495 1.0509 1.0405 10433-COT4 2048 ine 1.0405 10441 1.0355 10360073 Sept 1,0320 1A320? 1.0310 1.0?3-.0073 Rei -2.378 2.397 2.374 23% ? 1M5 7,404 arch 143700 143900 14500 1435.2 1 226757 125 Maim Pwo ce??500m speraci 35550 561 .00 Mach 07830 0793 0820 0765 00015 17,352 ne 07758 0773 07758 07798 0C015 122 ah 1.3317 13398 1329 3378 0053 216,67 ne 1.3329 13400 13300 13385 0052 m 1426,75 1428.25 1404.50 142.75-3.00 40,830 417.00> p 408.00 41470-110 127,823 Echp1 My 412.10 1250 404.20 41060 150 56,552 117675 11.6750 ?11.67501203290 2.2100 4,086 150$21 5.CHfo Mach 52.40 5260 187 249 9010Euross France(IEUSHE125,00CHF pre March 1.2376 12445 ? 1.2360 1201 .0031 8,588 1537.00 152300 S2.52 12472 May 1562.00 156200 554S0 050 -200 140 - 788.25 ?75 777.00 71225-650 83,615 Mini DJ Industrial lowog. (ans5xhdex Mth 819.00 8200 81675 210 1904 S&P 500 Index (CMEH$250 x Inde na. na. 83525 14050 -EJO 35595 Moch 148101497 50 ?143330 149130 Lg 194.350 lane 1482901?1.50 ?1430.50 1405.10 1.50 4,198 5225 5590 500 20,338 Miri S&P 500(OME-S50 x Ind Ma, 872.2587225 864.50 367.50-475 9,76 March 1483.25 1497 75 ? 1482.75 1401.75 1.502972476 Jane 14TT25 1491.2147625 14500 518,475 In 144.425 145000 144.100 144600 .400 1205 Mii S&PMidcap 400DESWx ndut Mach 147.300 140575 ?46J25 147.950 .500 14,972 Mmch ?077501089 20 A 107530 100.30 4.70 114,953 eb 126100 126.87 12562S 158 ? 130,650 131.425 130.175 130350-100 155,046 6 Mach 271675 2743.50 2709 75 271825.5 0,89 Figure 22.1 Futures listings 2013 Source: The Wall Street Journal January 2s, 2013. Reprinted by permission of The Wall Street/ouma, Dow Jones &Company, Inc. All Rights Reserved Worldwide
