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Suppose on June 1st, 2016, the September 2016 Mexican Peso future contract has price of 0.05481 per MXN. You believe the spot price in September will be $0.06133 per MXN. What speculative position would you enter into to attempt to profit from your beliefs? Calculate your anticipated profits, assuming you take a position in three contracts. What is the size of your profit (loss) if the futures price is indeed an unbiased predictor of the future spot price and this price materializes? (Note: The contract size of one MXN contract is MXN500,000)
Sagot :
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