Consider the following prices, volume and open interest for gold futures contracts. Contract size: 100 oz Price units: $/oz (a) What was the value of the contract that expires in February 2022 when the market closed? (b) Which futures contracts had a higher settle price on the previous trading day? (c) Would a speculator prefer to go short at the daily high price or the daily low price?
Consider the following prices, volume and open interest for gold futures contracts. Contract size: 100 oz Price units: $/oz (a) What was the value of the contract that expires in February 2022 when the market closed? (b) Which futures contracts had a higher settle price on the previous trading day? (c) Would a speculator prefer to go short at the daily high price or the daily low price?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
100%
Consider the following prices, volume and open interest for gold futures contracts.
Contract size: 100 oz
Price units: $/oz
(a) What was the value of the contract that expires in February 2022 when the market closed?
(b) Which futures contracts had a higher settle price on the previous trading day?
(c) Would a speculator prefer to go short at the daily high price or the daily low price?
Transcribed Image Text:Contract
Last
Change
Open
High
Low
Previous
Volume
Open Int
+ GCY00 (Cash)
+ GCQ21 (Aug '21)
+ GCU21 (Sep '21)
+ GCV21 (Oct '21)
+ GCZ21 (Dec '21)
+ GCG2 (Feb '22)
1,704.61
-58.55
1,763.20
1,763.43
1,693.69
1,763.16
388
N/A
1,708.6
-51.4
1,753.5
1,753.8
1,692.6
1,760.0
53
1,400
1,708.3
-52.0
1,762.8
1,762.8
1,690.1
1,760.3
391
1,693
1,709.0
-52.1
1,763.0
1,763.0
1,676.4
1,761.1
2,603
46,484
1,712.4
-50.7
1,765.0
1,765.7
1,677.9
1,763.1
38,976
397,639
1,713.0
-52.1
1,766.0
1,766.4
1,680.0
1,765.1
318
22,695
GCJ22 (Apr 22)
1,702.8
-64.4
1,762.8
1,763.2
1,682.4
1,767.2
155
7,769
+ GCM22 (Jun '22)
+ GCQ22 (Aug '22)
1,719.1
-49.9
1,771.0
1,771.0
1,704.3
1,769.0
39
5,509
1,710.2
-60.6
1,710.2
1,710.2
1,710.2
1,770.8
2
604
+ GCV22 (Oct '22)
1,739.1
-33.4
1,739.1
1,739.1
1,739.1
1,772.5
1
359
+ GCZ22 (Dec '22)
1,709.3
-65.0
1,774.9
1,774.9
1,703.0
1,774.3
22
1,451
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education