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Homework answers / question archive / Jamie Rodriguez, a currency trader for Chicago-based Ventosa Investments, uses the following futures quotes on the British pound (£) to speculate on the value of the pound

Jamie Rodriguez, a currency trader for Chicago-based Ventosa Investments, uses the following futures quotes on the British pound (£) to speculate on the value of the pound

Finance

Jamie Rodriguez, a currency trader for Chicago-based Ventosa Investments, uses the following futures quotes on the British pound (£) to speculate on the value of the pound.

 

British Pound  Futures, US$/pound (CME)

Contract = 62,500 pounds

 

 

 

 

 

 

 

Open

Maturity

Open

High

Low

Settle

Change

High

Interest

March

    1.4246

    1.4268

    1.4214

    1.4228

    0.0032

    1.4700

    25,605

June

    1.4164

    1.4188

    1.4146

    1.4162

    0.0030

    1.4550

         809

 

  1. If Jaime buys 5 June pound futures, and the spot rate at maturity is $1.3980/£, what is the value of her position?
  2. If Jamie sells 12 March pound futures, and the spot rate at maturity is $1.4560/£, what is the value of her position?
  3. If Jamie buys 3 March pound futures, and the spot rate at maturity is $1.4560/£, what is the value of her position?
  4. If Jamie sells 12 June pound futures, and the spot rate at maturity is $1.3980/£, what is the value of her position?

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