On August 6, you go long one IMM yen futures contract at an opening price of $0.00812
Question:
On August 6, you go long one IMM yen futures contract at an opening price of $0.00812 with a performance bond of $4,590 and a maintenance performance bond of $3,400. The settlement prices for August 6, 7, and 8 are $0.00791, $0.00845, and $0.00894, respectively. On August 9, you close out the contract at a price of $0.00857. Your round-trip commission is $31.48.
a. Calculate the daily cash flows on your account. Be sure to take into account your required performance bond and any performance bond calls.
b. What is your cash balance with your broker on the morning of August 10?
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a Net gain on the futures contract 2625 6750 6150 4625 3148 559352 Your performance bond calls and c...View the full answer
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Related Book For 
Foundations Of Multinational Financial Management
ISBN: 9780470128954
6th Edition
Authors: Alan C Shapiro, Atulya Sarin
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