Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. what was your total profit (in dollars) on the fol

What was your total profit (in dollars) on the following speculative position? ...

70.2K

Verified Solution

Question

Finance

  1. What was your total profit (in dollars) on the following speculative position?
  • You went long 100 gold contracts, short 100 platinum contracts, and long 100 silver contracts on January 2nd and closed out each position on January 4th.

Trading date

June Gold Futures, 100 troy oz/contract ($/oz)

April Platinum Futures, 50 troy oz/contract ($/oz)

March Silver Futures, 5,000 troy oz/contract (cents/oz)

2-Jan

900.5

1,222.20

2,540.20

3-Jan

910.6

1,323.30

2,424.70

4-Jan

914.2

1,244.80

2,547.80

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

The Frontline Corporation's projected sales for the first 8 months of 2019 are shown in the...

Accounting
1.2K views

Explain three (3) advantages in using activity based costing system for a manufacturing company.

Biology
1.2K views

Which of the following techniques was used to identify the size of CptA?Fetal membrane transversalHemolysis...

Biology
1.2K views

Which level of protein structure specifically results from intramolecular interactions between backbone groups only secondary...

Basic Math
1.2K views

The probability that it will snow on January 10 is 0.25. What is the probability...

Algebra
1.2K views

A bicycle when with a radius of 13 inches turns with an angular velocity of...

Accounting
1.2K views

We know that Facebook acquired two companies in 2014. If Facebook took a goodwill impairment...

Accounting
1.2K views

Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a...

Accounting
1.2K views

Sunn Company manufactures a single product that sells for $240 per unit and whose variable...

Accounting
1.2K views

Question 8 of 10 View Policies Show Attempt History Current Attempt in Progress Your...

Accounting
1.2K views

Parker Company issued $4,000,000,10%, ten-year convertible bonds on July 1,2024 at 97. The bonds were...

Accounting
1.2K views

You are considering the purchase of a parking deck close to your office building. The...