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Q1. Trader Z holds the following futures positions on NYMEX for WTI crude oil: One...

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Q1. Trader Z holds the following futures positions on NYMEX for WTI crude oil: One WTI futures is for 1,000 barrels. Position Delivery month Current futures market price Long 50 futures Long 25 futures Short 50 futures Short 30 futures AUG 2022 SEP 2022 JAN 2023 APR 2023 $65.80/barrel $71.22/barrel $72.30/barrel $72.88/barrel Trader Z decides to quit the market now, given the current market prices. 1.1 Describe exactly how does Trader Z quits the market. 1.2 Show the cash flows associated with Trader Z's market activities and calculate the total cash flow

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