You are a trader at Quokka capital and trading futures on the USD v EUR exchange rate.
Question:
You are a trader at Quokka capital and trading futures on the USD v EUR exchange rate. The exchange rate is quoted as the number of USD per EUR and each contract is for a notional amount of EUR 125,000.
Today, you do the following trades:
At 10 am, you buy 10 futures contracts at 1.1275.
At 11 am, you sell 10 futures contracts at 1.1270.
At 2 pm, you sell 20 futures contracts at 1.1295.
At 3 pm, you buy 20 futures contracts at 1.1265.
What is your total (net) profit, in USD, at the end of the day. If the profit is actually a loss, enter a negative number. Give your answer to the nearest cent (i.e., 0.01 USD).
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer