Question
Use the following corn futures quotes: Corn 5,000 Bushels Contract month Open High Low Settle Change Open Int March 455.125 457.000 451.750 452.000 -2.750 597,913
Use the following corn futures quotes:
Contract month | Open | High | Low | Settle | Change | Open Int |
---|---|---|---|---|---|---|
March | 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 March contracts are currently open?
Contracts__________________
2.) How many of these contracts should you sell if you wish to deliver 210,000 bushels of corn in March?
Contracts__________________
3.)If you actually make delivery, how much will you receive? Assume you locked in the settle price. (Do not round intermediate calculations. Round your answer to the nearest whole dollar. Omit the "$" sign in your response.)
Price_____________________
4.) Suppose you sell 22 of the May corn futures at the high price of the day. You close your position later when the price is 464.750. Ignoring commission, what is your dollar profit on this transaction? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Dollar profit________________
5.) Suppose you buy 17 of the September corn futures contracts at the last price of the day. One month from now, the futures price of this contract is 462.375, and you close out your position. Calculate your dollar profit on this investment. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Dollar profit_______________
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