As it appears in the course syllabus, you should prepare for…

As it appears in the course syllabus, you should prepare for each exam as though it is closed book examination in the classroom. Please confirm your agreement to these statements. Violation of these statements is considered academic dishonesty and will result in a failing grade in Exam #1. I recognize the importance of personal integrity in all aspects of life and work. I commit myself to complete this exam in a fair, honest, respectful, responsible, and trustworthy manner. I will complete the exam as if the professor was watching in the classroom. I will act according to the professor’s instructions (closed book/notes examination). I will neither give nor receive any aid or assistance. All exam answers will be my own. I will not leave the exam before submitting it as I will not be able to re-enter this exam after leaving (all points of the remaining unanswered questions will be lost). I know that the integrity of this exam and this class is up to me, and I pledge not to take any action that would break the trust of my classmates or professor, or undermine the fairness of this class. I have read these statements and [answer1]

Based on the following scenario, calculate the volume and op…

Based on the following scenario, calculate the volume and open interest over the trading day.  Assume that during the first transaction of the day, trader A goes long 6 contracts while trader B goes short those 6 contracts.  During the next transaction, trader C goes long 8 contracts while trader D takes the opposite position of trader C.   During the next transaction, trader B evens-up all 6 of their contracts, while trader E takes the opposite position to that of trader B.  If these are all the trades for the day, what is the volume and open interest at the end of the day?  Show your work.      

Suppose you trade live cattle futures and are a fundamental…

Suppose you trade live cattle futures and are a fundamental analyst.  The current USDA “Cattle on Feed Report” suggests that more cattle are being placed on feed in feedlots this year relative to previous years.  Therefore, this information (holding everything else constant) would likely be bullish for live cattle futures.  

Last year, speculator Brian went “short” three (3) March 202…

Last year, speculator Brian went “short” three (3) March 2023 cotton futures contracts at 98.70 cents per lb.  One month passed, and he decided to even up his position.  When he evened up his position, the March 2023 price was 99.85.  Each cotton contract is worth 50,000 lbs. of cotton.  His profit or loss on a per contract basis (cents/lb.) was ____ and his total dollar profit or loss was _____ .