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You purchased the following futures contract today at the Settle price listed in the Wall Street Journal. Answer the questions below regarding the contract.
You purchased the following futures contract today at the "Settle" price listed in the Wall Street Journal. Answer the questions below regarding the contract. Soybean Oil (CBT) 60,000 lbs.; cents per lb. Lifetime Open High Low Settle Change High Low Open Interest Oct. 15.28 15.33 15.25 15.29 -.02 20.35 15.25 7,441 5c. Suppose a trader shorts one soybean oil futures contract, and the price of the contract settles for the next three days as shown in the following table. Day Contract Price Profit or Loss (per lb.) from 1 contract 0 $0.1529 N/A 1 $0.1527 2 $0.1540 3 $0.1597 What is the profit or loss at the end of each day. Show your calculations.
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