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Suppose laura luckett believes the korean won will rise in

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Suppose Laura Luckett believes the Korean won will rise in value against the U.S. dollar by March, and took an appropriate position in March futures contract in the amount of 1,000,000,000 won. Assume today's spot rate of 1,150 won/$ and the future spot rate of 1,090 won/$, and calculate the value of her position at maturity, using the quotes on Korean won futures in the following table:

MaturityOpenHighLowSettle

Mar 1,1111,1151,1051,112

June 1,0951,1081,0901,094

Sep 1,0921,1041,0851,090

Value of her position at maturity is $___________.

Reference no: EM13483179

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