Using the market data in Exhibit 7.6, show the net terminal value of a long position in one 100 Aug Japanese yen European call contract at the following terminal spot prices, cents per yen: 91, 95, 100, 105, and 109. Ignore any time value of money effect. EXHIBIT 7.6 PHLX World Currency Options Quotations NASDAQ OMX PHLX Options Calls Puts 100.79 Japanese Yen 1,000,000 J.Yen-100ths of a cent per unit. Jun Jun Jun Jun Aug Aug Aug Aug 2.44 1.78 1.20 85 3.40 2.83 2.30 1.85 57 91 1.39 2.01 1.56 1.97 3.78 2.98 100 101 102 100 101 102 Euro 10,000 Euro-cents per unit. 129 130 131 132 133 129 130 131 132 133 130.92 2.29 1.56 97 54 Jun Jun Jun Jun Jun Aug Aug Aug Aug Aug 36 62 1.04 1.61 2.34 1.21 1.56 1.99 2.50 3.10 3.18 2.52 1.95 1.47 1.07 Source: Mid-prices compiled from bid and ask quotations obtained from Bloomberg on Wednesday, June 5, 2013 Using the market data in Exhibit 7.6, show the net terminal value of a long position in one 100 Aug Japanese yen European call contract at the following terminal spot prices, cents per yen: 91, 95, 100, 105, and 109. Ignore any time value of money effect. EXHIBIT 7.6 PHLX World Currency Options Quotations NASDAQ OMX PHLX Options Calls Puts 100.79 Japanese Yen 1,000,000 J.Yen-100ths of a cent per unit. Jun Jun Jun Jun Aug Aug Aug Aug 2.44 1.78 1.20 85 3.40 2.83 2.30 1.85 57 91 1.39 2.01 1.56 1.97 3.78 2.98 100 101 102 100 101 102 Euro 10,000 Euro-cents per unit. 129 130 131 132 133 129 130 131 132 133 130.92 2.29 1.56 97 54 Jun Jun Jun Jun Jun Aug Aug Aug Aug Aug 36 62 1.04 1.61 2.34 1.21 1.56 1.99 2.50 3.10 3.18 2.52 1.95 1.47 1.07 Source: Mid-prices compiled from bid and ask quotations obtained from Bloomberg on Wednesday, June 5, 2013