Question: 2.) (20 points) On August 6 , you go long one IMM yen futures contract for Yen 12,500,000 at an opening price of $.00812 with
2.) (20 points) On August 6 , you go long one IMM yen futures contract for Yen 12,500,000 at an opening price of $.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 $.00791,$.00845 and $.00894, respectively. On August 9, you close out the contract at a price of $.00857. Your roundtrip commission is $31.48. A.) Calculate the daily cash flows on your account along with the Net Gain or Loss on the futures contract. See the Application on page 285 of the textbook. B.) Calculate for each day (August 6,7,8 and 9), the cash balances and any performance bond calls at the end of each day. See the Application on page 285 of the text book
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