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【正文】 3 ) = + 50,160 Feb: Long 3 May K (.4850 x 38,000 x 3 ) = 55,290 Loss of % = 5,130 You have lived in NYC your whole life and are independently wealthy. You think you know everything there is to know about pork bellies (uncurred bacon) because your butler fixes it for you every morning. Because you have decided to go on a diet, you think the price will drop over the next few months. On the CME, each PB K is 38,000 lbs. Today, you decide to short three May Ks cents per lbs. In Feb, the price rises to cents and you decide to close your position. What is your gain/loss? 22 30 McGraw Hill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved Margin ? The amount (percentage) of a Futures Contract Value that must be on deposit with a broker. ? Since a Futures Contract is not an actual sale, you need only pay a fraction of the asset value to open a position = margin. ? CME margin requirements are 15% ? Thus, you can control $100,000 of assets with only $15,000. 22 31 McGraw Hill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved Commodity Speculation with margin You have lived in NYC your whole life and are independently wealthy. You think you know everything there is to know about pork bellies (uncurred bacon) because your butler fixes it for you every morning. Because you have decided to go on a diet, you think the price will drop over the next few months. On the CME, each PB K is 38,000 lbs. Today, you decide to short three May Ks cents per lbs. In Feb, the price rises to cents and you decide to close your position. What is your gain/loss? 22 32 McGraw Hill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved Nov: Short 3 May K (.4400 x 38,000 x 3 ) = + 50,160 Feb: Long 3 May K (.4850 x 38,000 x 3 ) = 55,290 Loss = 5,130 Loss 5130 5130 Margin 50160 7524 = = = 68% loss You have lived in NYC your whole life and are independently wealthy. You think you know everything there is to know about pork bellies (uncurred bacon) because your butler fixes it for you every morning. Because you have decided to go on a diet, you think the price will drop over the next few months. On the CME, each PB K is 38,000 lbs. Today, you decide to short three May Ks cents per lbs. In Feb, the price rises to cents and you decide to close your position. What is your gain/loss? Commodity Speculation with margin 22 33 McGraw Hill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved Homework Assignment 10 ? Ch. 24: ? Practice Questions: 5,8,15 ? Challenge Questions: 2 ? Ch. 27: ? Practice Questions: 10,13 ? Challenge Questions: 2 22 34 McGraw Hill/Irwin Copyright 169。 2023 by The McGrawHill Companies, Inc. All rights reserved 謝謝觀看 /歡迎下載 BY FAITH I MEAN A VISION OF GOOD ONE CHERISHES AND THE ENTHUSIASM THAT PUSHES ONE TO SEEK ITS FULFILLMENT REGARDLESS OF OBSTACLES. BY FAITH I BY FAITH
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