Question: 16. (8 points) Use the following table to answer the question. Australian dollar futures contracts, S/AS Settle Maturity September Open .6450 High .6458 Low .6398

16. (8 points) Use the following table to answer the question. Australian dollar futures contracts, S/AS Settle Maturity September Open .6450 High .6458 Low .6398 .6409 December .6304 .6396 6365 .6366 As a currency speculator, assume you shorted 3 December futures contracts for A$ 100,000 each at the settle price in the table. What is your profit or loss if you close out the position 1 month later at a price of $.6321/A$? Commission charges are $40 round trip per contract. 17. (8 points) Relating to futures contracts, define initial margin, maintenance margin, marking-to-market and variation margin

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