Question
You are short 15 gasoline futures contracts, established at an initial settle price of $2.48 per gallon, where each contract represents 42,000 gallons. Over the
| You are short 15 gasoline futures contracts, established at an initial settle price of $2.48 per gallon, where each contract represents 42,000 gallons. Over the subsequent four trading days, gasoline settles at $2.46, $2.49, $2.52, and $2.54, respectively. |
| a. | Calculate the profit or loss for each trading day. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
| b. | Compute your total profit or loss at the end of the trading period. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) |
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Airline Finance
Authors: Peter S. Morrell
3rd Edition
0815387520, 9780815387527
