ce%20463%20Spring%202020%20(1).pdf - t 2 2 84. [6 points] On August 6, you go long one IMM yen futures contract at an opening price of $0.00812 with a margin account of $4,590 and a maintenance account of $3,400. The settlement prices for August 6, 7, and 8 are, $0.00894. $0.00845, and $0.00791 and, respectively. On August 9, you close out the contract at a price of $0.00857. Your round-trip commission is $61.45.The size of one yen futures contract is 12,500,000 C. a. Calculate the daily cash flows on your account. Be sure to take into account your required margin and any margin calls. b. What is your cash balance with your broker on the morning of August 10? What is your overall gain loss at the end of the day on August 9? Balance Time Margin Calls Spot Daily Gain/loss on margin August 6 morning August 6 close August 7 close August close August 9 close c) Net gain/loss on the futures contract (including fees and commissions) - S 9. [3 Points] Under what conditions forward exchange rate, is an unbiased estimator 30 ce%20463%20Spring%202020%20(1).pdf - t 2 2 84. [6 points] On August 6, you go long one IMM yen futures contract at an opening price of $0.00812 with a margin account of $4,590 and a maintenance account of $3,400. The settlement prices for August 6, 7, and 8 are, $0.00894. $0.00845, and $0.00791 and, respectively. On August 9, you close out the contract at a price of $0.00857. Your round-trip commission is $61.45.The size of one yen futures contract is 12,500,000 C. a. Calculate the daily cash flows on your account. Be sure to take into account your required margin and any margin calls. b. What is your cash balance with your broker on the morning of August 10? What is your overall gain loss at the end of the day on August 9? Balance Time Margin Calls Spot Daily Gain/loss on margin August 6 morning August 6 close August 7 close August close August 9 close c) Net gain/loss on the futures contract (including fees and commissions) - S 9. [3 Points] Under what conditions forward exchange rate, is an unbiased estimator 30