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10. An investor decides to speculate in Soybeans and is faced with the following

ID: 2728279 • Letter: 1

Question

10. An investor decides to speculate in Soybeans and is faced with the following current quotes and expected prices: March Soybeans quoted at $11.00 E(St) = 13.50 May Soybeans quoted at $11.70 E(Ft) = 14.00 Someone positioning a spread expects the price difference to narrow and therefore will buy which contract and sell which contract? What is the gain or loss? (hint treat each transaction individually as far as gain and loss then net the two).

11. A trade in which an entity is long a portfolio of corporate bonds and hedges by shorting T-Bond futures is what kind of hedge

12. Which positions are debit option strategies? I. Bear Call Spread II. Bull Call Spread III. Bull Put Spread IV. Bear Put Spread

Explanation / Answer

11. Future hedging

Short Hedges: A short hedge is one where a short position is taken on a futures contract. It is typically appropriate for a hedger to use when an asset is expected to be sold in the future. Alternatively, it can be used by a speculator who anticipates that the price of a contract will decrease.