Explain how much do you gain or lose as of the close

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Reference no: EM132015822

Suppose that on October 24 you buy 12 March gold futures contracts for $250 per ounce.

At 11:00 am on October 25 you buy 10 more contracts for $245.5 ounce. At the close of trading on October 25, gold futures settle for $239.0 ounce.

If the contract size is 100 ounces and the initial margin equals 2500, how much do you gain or lose as of the close?

Reference no: EM132015822

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