Understanding Future Quotations (LO1, LO2, CFA2). Using figure 14.1, answer the following questions.
a. What was the settle price for March 2016 coffee futures on this date? What is the total dollar value of this contract at the close of trading for the day?
b. What was the settle price for December 2015 gasoline futures on this date? If you held 10 contracts, what is the total dollar value of your futures position?
c. Suppose you held an open position of 25 March 2016 Mini Dow Jones Industrial Average futures on this day. What is the change in the total dollar value of your position for this day's trading? If you held a long position, would this represent a profit or a loss to you?
d. Suppose you are short 10 January 2016 soybean oil futures contracts. Would you have made a profit or a loss on this day?
e. You went long 20 June 2016 crude oil futures contracts at a price of $42.18. Looking at figure 14.1. If you closed your position at the settle price on this day, what was your profit?
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