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What is the total profit

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Question - Suppose that on October 28, 2017, a trader buys one April 2018 live-stocks futures contract. It closes out its position on January 18, 2018. The futures price (per pound) is $1.0755 when it enters into the contract, $1.2135 when it closes out its position, and $1.1085 at the end of December 2017. One contract is for the delivery of 20,000 pounds of live-stocks. What is the total profit? How is it taxed if the trader is (a) a hedger and (b) a speculator? Assume that the trader has a December 31-year end.

Reference no: EM132825408

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