You shorted 10 Sept 2012 Australian Dollar futures contracts at the high price f

Question

You shorted 10 Sept 2012 Australian Dollar futures contracts at the high price for the day. Looking back at figure_14.1 if you closed your position at the settle price on this day, what was your profit? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

You shorted 10 Sept 2012 Australian Dollar futures contracts at the high price for the day. Looking back at figure_14.1 if you closed your position at the settle price on this day, what was your profit? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Explanation / Answer

Profit /loss = number of contracts*units per contract*(short price-settle price)

=10*100000*(.9747-.9638)

=10900

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