On November $15,2019,$ Mary believes that the share market will suffer a correction $($fall$)$ of $20\%$ in late February. It is November $15,2019$ and the ASX $200$ index stands at $6780.$ If Mary commonly speculates using $5$ SPI $200$ contracts;

i$)$ Outline the position she should take to profit from her expectations.

ii$)$ Calculate her profit or loss on February $28$th$,2012$ for this position if the bid and ask quotations for March $2020$ SPI $200$ contracts are quoted at $6582\mathrm{.}0$ and $6584\mathrm{.}0$ respectively.

iii$)$ Outline the action she should take to realise this profit or loss.

Use the quotations from the ASX table above, while assuming that all futures trades are conducted using market orders, and document her various actions in the table below. Recall that SPI futures are valued at $$25$ times the index.

It is November $15$th $2019,$ and Jerry will need to borrow $$5,000,000$ for $90-$days next June. If today's yield on $90-$day bank bills is $1\mathrm{.}0\%$ p$.$a$.$ and Jerry believes that $90-$day interest rates may fall to $0\mathrm{.}8\%$ p$.$a$.$ by June. What futures position should Jerry take to hedge this exposure? What borrowing rate would Jerry lock$-$in$,$ if in June, the June futures quotations are $98\mathrm{.}8800($bid$)$ and $98\mathrm{.}8650($ask$),$ and September futures $98\mathrm{.}8500($bid$)$ and $98\mathrm{.}8650($ask$),$ while Jerry is able to issue $90-$day bills at $1\mathrm{.}70\%$ p$.$a$.?$

Use the quotations from the ASX table above, while assuming that all futures trades are conducted using market orders, and document his various actions in the table below.