Question
You take a speculative long position in 5 January frozen concentrated orange juice (FCOJ) futures at a price of 131.14/lb. Each FCOJ contract represents 15,000
You take a speculative long position in 5 January frozen concentrated orange juice (FCOJ) futures at a price of 131.14/lb. Each FCOJ contract represents 15,000 lbs.
If your account has an initial margin of 8%, what will be your dollar profit if you close out this position at 117.36/lb. prior to expiration? (Round answer to 2 decimal places. Do not round intermediate calculations)
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Peggy L. Hedges, Philip Chang, Keith C. Brown, Hedges Reilly Brown
1st Canadian Edition
0176500693, 978-0176500696
