Finanace (FIN494)

FIN 494 Homework 3 Solutions_2020 Problem 1 You are long on oil futures since May 1. On May 2, futures price on 1,000 barrels of crude oil with January 15 delivery was $50 a barrel, while spot price of crude oil was $51 a barrel. One week later, on May 9, futures price on the same contract was $52 and spot price of crude was $53. Between May 2 and May 9, a. Your account balance went up by $2,000 b. Your account balance went down by $2,000 c. Your account balance went up by $1,000 d....