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You Purchased Five August 13 Futures Contracts on Soybeans at a Price

question 30

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You purchased five August 13 futures contracts on soybeans at a price quote of 1056′6. Each contract is for 5,000 bushels with the price quoted in cents and 1/8ths of a cent per bushel. Assume the contract price is 1061′4 when you close out your contract six weeks from now. What will be your total profit or loss on this investment?


Definitions:

Optic Nerve

The nerve that transmits visual information from the retina to the brain.

Retina

A layer at the back of the eyeball containing cells that are sensitive to light and trigger nerve impulses that pass via the optic nerve to the brain.

Optic Chiasm

The part of the brain where the optic nerves partially cross, involved in visual processing.

Ophthalmoscope

A medical instrument used to examine the interior of the eye, especially the retina.

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