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Use the following corn futures quotes: Corn 5,000 bushels Contract Month Open High Low Settle Chg Open Int Mar 455.125 457.000 451.750 452.000 ?2.750 597,913
Use the following corn futures quotes: |
Corn 5,000 bushels | ||||||
Contract Month | Open | High | Low | Settle | Chg | Open Int |
Mar | 455.125 | 457.000 | 451.750 | 452.000 | ?2.750 | 597,913 |
May | 467.000 | 468.000 | 463.000 | 463.250 | ?2.750 | 137,547 |
July | 477.000 | 477.500 | 472.500 | 473.000 | ?2.000 | 153,164 |
Sep | 475.000 | 475.500 | 471.750 | 472.250 | ?2.000 | 29,258 |
1. | How many of the July contracts are currently open? |
2. | How many of these contracts should you sell if you wish to deliver 130,000 bushels of corn in July? |
3. | If you actually make delivery, how much will you receive? Assume you locked in the settle price. |
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