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Benjamin bought a contract for future delivery of 5000 bushels of oats at $3.64 per bushel and sold ...

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Benjamin bought a contract for future delivery of 5000 bushels of oats at $3.64 per bushel and sold ...

Benjamin bought a contract for future delivery of 5000 bushels of oats at $3.64 per bushel and sold a later contract at $3.92 a bushel. A month later, corn prices were rising and Joseph sold his long contract for $4.01 per bushel and covered his short by purchasing a contract for $3.99 per bushel. Ignoring trading costs, Joseph

▸ broke even.

▸ made a profit of $1,850.

▸ lost $1,500.

▸ made a profit of $1,500.

Textbook

Fundamentals of Investing

Edition: 14^th

Authors: Zutter, Smart

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