Use the following corn futures quotes: Contract Month March May July September Open 455.125 467.000 477.000...
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Use the following corn futures quotes: Contract Month March May July September Open 455.125 467.000 477.000 475.000 Corn 5,000 bushels High Low Settle 457.000 451.750 452.000 468.000 463.000 477.500 472.500 475.500 Change -2.750 463.250 -2.750 473.000 471.750 472.250 -2.000 -2.000 Open Interest 597,913 137,547 153,164 29,258 Suppose you buy 16 of the September corn futures contracts the last price of the day. One month from now, the futures price of this contract is 462.250, and you close out your position. Calculate your dollar profit on this investment. Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places. Use the following corn futures quotes: Contract Month March May July September Open 455.125 467.000 477.000 475.000 Corn 5,000 bushels High Low Settle 457.000 451.750 452.000 468.000 463.000 477.500 472.500 475.500 Change -2.750 463.250 -2.750 473.000 471.750 472.250 -2.000 -2.000 Open Interest 597,913 137,547 153,164 29,258 Suppose you buy 16 of the September corn futures contracts the last price of the day. One month from now, the futures price of this contract is 462.250, and you close out your position. Calculate your dollar profit on this investment. Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.
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Related Book For
Fundamentals of Investments, Valuation and Management
ISBN: 978-1259720697
8th edition
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
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