Jamie Rodriguez, a currency trader for Chicago-based Ventosa Investments, uses

Jamie Rodriguez, a currency trader for Chicago-based Ventosa Investments, uses the following futures quotes on the British pound (£) to speculate on the value of the pound.

Jamie Rodriguez, a currency trader for Chicago-based Ventosa Investments, uses

a. If Jamie buys 5 June pound futures, and the spot rate at maturity is $1.3980/£, what is the value of her position?

b. If Jamie sells 12 March pound futures, and the spot rate at maturity is $1.4560/£, what is the value of her position?

c. If Jamie buys 3 March pound futures, and the spot rate at maturity is $1.4560/£, what is the value of her position?

d. If Jamie sells 12 June pound futures, and the spot rate at maturity is $1.3980/£, what is the value of her position?

Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...

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