You shorted 15 March 2016 British pound futures contracts at the high price for the day. Looking
Question:
You shorted 15 March 2016 British pound futures contracts at the high price for the day. Looking back at Figure 14.1, if you closed your position at the settle price on this day, what was your profit?
Figure 14.1
Transcribed Image Text:
Metal & Petroleum Futures Contract Open Chg Interest Open High hi lo LoW Settle Copper-High (CMX)-25,000 lbs.; $ per Ib. Nov 2.2380 2.2395 2.2305 2.2300 -0.0115 2,109 Dec 2.2350 2.2510 2.2260 2.2300 -0.0120 90,935 Gold (CMX)-100 troy oz.; $ per troy oz. Nov 1088.60 1088.60 1088.60 1087.90 0.30 211 Dec 1089.10 1094.90 1087.40 1088.10 0.40 247,319 Feb'16 1089.90 1095.50 1088.60 1089.10 0.40 102,730 Аpril June 1091.00 1095.60 1089.50 1089.90 0.40 28,444 1091.70 1096.60 1090.00 1090.60 0.40 18,947 14,070 Dec 1098.10 1100.00 1093.20 1093.60 0.50 Palladium (NYM)-50 troy oz.; $ per troy oz. 671.70 671.70 Nov 671.70 596.75 - 16.00 Dec 617.70 621.20 595.00 596.95 - 16.00 23,681 3,781 March' 16 614.95 620.00 596.00 597.45 - 16.10 Platinum (NYM)-50 troy oz.; $ per troy oz. Nov 990.20 990.20 986.70 914.40 -25.20 Jan'16 942.00 943.20 910.30 914.40 -25.60 63,763 Silver (CMX)-5.000 troy oz.; $ per troy oz. Nov Dec 15.035 15.045 15.005 14.418 -0.278 14.730 14.760 14.395 14.413 -0.278 95,144 Crude Oil, Light Sweet (NYM)-1000 bbls.; $ per bbl. -0.42 400,803 -0.35 302,907 Dec 44.52 45.12 43.64 43.87 Jan'16 45.62 46.29 44.88 45.12 -0.28 109,090 -0.25 150,438 Feb 46.09 47.16 45.80 46.05 March 47.19 47.87 46.58 46.84 June 48.66 49.45 48.14 48.42 -0.22 112,896 Dec 50.65 51.45 50.25 50.54 -0.11 150,413 NY Harbor ULSD (NYM)-42,000 gal.; $ per gal. Dec 1.4958 1.5220 1.4745 1.4774 -0.122 80,808 84,315 Jan'16 1.5121 1.5392 1.4960 1.4985 -0.112 Gasoline-NY RBOB (NYM)-42,000 gal.; $ per gal. Dec 1.3768 1.4048 1.3662 1.3705 .0010 92,987 92,590 Jan'16 1.3557 1.3852 1.3495 1.3549 .0018 Natural Gas (NYM)-10,000 MMBtu.; $ per MMBtu. Dec 2.373 2.387 2.274 2.300 -071 253,091 Jan'16 2.535 2.544 2.423 2.449 -.083 262,791 Feb 2.558 2.571 2.453 2.480 -.077 66,305 109,844 March 2.559 2.561 2.449 2.479 -.069 April May 2.509 2.509 2.414 2.446 -.056 89,244 2.529 2.529 2.450 2.478 -.054 36,545
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
15 625...View the full answer
Answered By
Collins Omondi
I have been an academic and content writer for at least 6 years, working on different academic fields including accounting, political science, technology, law, and nursing in addition to those earlier listed under my education background.
I have a Bachelor’s degree in Commerce (Accounting option), and vast knowledge in various academic fields Finance, Economics, Marketing, Management, Social Science, Women and Gender, Business law, and Statistics among others.
4.80+
4+ Reviews
16+ Question Solved
Related Book For
Fundamentals of Investments, Valuation and Management
ISBN: 978-1259720697
8th edition
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
Question Posted:
Students also viewed these Business questions
-
An FI has assets denominated in British pounds of $125 million and pound liabilities of $100 million. The exchange rate of dollars for pounds is currently $1.60/. a. What is the FI's net exposure? b....
-
Use the CME as a reference on 6/3/2016. If you purchase a British pound futures contract with the closest settlement date, what is the futures price? Given that the contract is based on 6,500 pounds,...
-
Using the data given for British Pound futures contracts design a suitable hedge that would minimize Pre-Fabs exposure to fluctuations in the exchange rate between the US$ and the British Pound....
-
A product has a contribution margin of $6 per unit and a selling price of $30 per unit. Fixed costs are $24,000. Assuming the new technology increases the unit contribution margin by 60 percent but...
-
What is the net force on a cart that is pulled to the right with 100 pounds of force and to the left with 30 pounds of force?
-
The Highland Cove Resort has a May 31 fiscal year end and prepares adjusting entries on a monthly basis. The following trial balance was prepared before recording the May 31 month-end adjustments:...
-
\(1,000 \mathrm{lb} / \mathrm{hr}\) of saturated water at \(600 \mathrm{psia}\) is superheated to \(650^{\circ} \mathrm{F}\) and expanded across a turbine to \(200 \mathrm{psia}\) as illustrated in...
-
Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end. The 2010 balance...
-
Given the following annual returns for Stock ABC, what does a $3,000 investment grow to over the 5-year period? Year 1: 15% Year 2: 20% Year 3: 25% Year 4: 15% Year 5: 15%
-
Driving an automobile safely requires a large amount of individual skill. Even if not generally recognized, the driver needs an intuitive ability to utilize feedforward and feedback control methods....
-
A non-dividend-paying stock is currently priced at $16.40. The risk-free rate is 3 percent and a futures contract on the stock matures in six months. What price should the futures be?
-
Suppose that the regression model is y = + , where has a zero mean, constant variance, and equal correlation, , across observations. Then Cov[ i , j ] = 2 if i = j. Prove that the least squares...
-
What is the formula for optimal setup time? a) V2DQ/[H(1 d/p)] b) VQH(1 d/p)/(2D) c) QH(1 d/p)/(2D) d) QH(1d/p)/(2D) e) H(1d/p)
-
Gros Beta is a hedge fund. He identified three high beta stocks, with betas of 2.6, 3.0 and 3.4, respectively, and invested in these stocks with an equal proportion. The standard deviation from Gros...
-
To fund some of its expansion plans, Ohio Rubber & Tire (ORT) recently issued 30-year bonds with low coupon rates. Investors were willing to purchase the bonds despite the low coupon rates because...
-
1. Write a c18 program to control the speed of DC motor by using a PWM with Fpwm-20 kHz and Fosc=32 MHz. The reference speed comes from five pushbuttons where. [6 points] pushbutton Reference speed...
-
Solve 3 20 0 -1 2] 2 2 . 1 (10 points) 2 3 1 3 1 3
-
How might we integrate cutting-edge technology and digital platforms to streamline the dissemination of information and optimize the readability of our internal memos and external communications?
-
Find the following expression, indicating which of the rules in (3) or (4) they illustrate, or give reasons why they are not defined. (C + D) + E, (D + E) + C, 0(C - E) + 4D, A - 0C Let 4 A 6. B = 3...
-
A business had revenues of $280,000 and operating expenses of $315,000. Did the business (a) Incur a net loss (b) Realize net income?
-
In Carharts (1997) empirical tests, did momentum affect stock returns of mutual funds? What practical advice to investors in mutual funds did his research reveal?
-
What is momentum in asset returns? Can it be used to construct a long/short factor? How did Carhart (1997) modify the three-factor model to take into account momentum?
-
Draw a diagram that depicts Fama and Frenchs three-factor model. How many dimensions are there in your drawing?
-
A useful quantitative model for the grinding of lenses with known focal lengths is the lens-makers' equation: nlens environment 1) (1/4-1/2), where f is the focal length of the lens, the two index of...
-
A student throws a set of keys vertically upward to her sorority sister, who is in a window 3.20 m above. The second student catches the keys 2.80 s later. (a) with what initial velocity were the...
-
Accelerating uniformly to overtake a slow-moving truck, a car moving initially at 24.4 m/s covers 67.2 m in 2.48 s. (a) What is the final speed of the car? m/s (b) What is the magnitude of the car's...
Black Series Soccer Scramble Motorized Goal With 2 Balls Sound Effect - ISBN: B0B931SF8T - Free Book
Study smarter with the SolutionInn App