Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What was your total profit (in dollars) on the following speculative position? You went long 100 gold contracts, short 100 platinum contracts, and long 100
What was your total profit (in dollars) on the following speculative position?
- You went long 100 gold contracts, short 100 platinum contracts, and long 100 silver contracts on January 2nd and closed out each position on January 4th.
Trading date | June Gold Futures, 100 troy oz/contract ($/oz) | April Platinum Futures, 50 troy oz/contract ($/oz) | March Silver Futures, 5,000 troy oz/contract (cents/oz) |
2-Jan | 900.5 | 1,222.20 | 2,540.20 |
3-Jan | 910.6 | 1,323.30 | 2,424.70 |
4-Jan | 914.2 | 1,244.80 | 2,547.80 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started