On March 1, You Contract to Take Delivery of 1

question 17

Multiple Choice

On March 1, you contract to take delivery of 1 ounce of gold for $415. The agreement is good for any day up to April 1. Throughout March, the price of gold hit a low of $385 and hit a high of $435. The price settled on March 31 at $420, and on April 1^st you settle your futures agreement at that price. Your net cash flow is:

• A) -$30.00.
• B) $20.00.
• C) $5.00.
• D) -$15.00.
• E) -$20.00.

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