Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following com futures quotes: Contract Month Mar May July Sep Corn 5,000 bushels Open High LOW Settle Chg Open Int 455. 125 457.000

image text in transcribed
Use the following com futures quotes: Contract Month Mar May July Sep Corn 5,000 bushels Open High LOW Settle Chg Open Int 455. 125 457.000 451.750 452.000 -2.750 597,913 467.000 468.000 463.000 463.250 -2.750 137,547 477.000 477.500 472.500 473.000 -2.000 193,164 475.000 475.500 471.750 472.250 -2.000 29,258 Suppose you buy 30 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 464.5, and you close out your position. Calculate your dollar profit on this investment. (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Take Charge Of Your Money Now Essential Strategies For Winning In Any Financial Climate

Authors: A.J. Monte, Rick Swope

1st Edition

0345517334, 978-0345517333

More Books

Students also viewed these Finance questions