The contract size for platinum futures is 50 troy ounces. Suppose you need 250 troy...
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The contract size for platinum futures is 50 troy ounces. Suppose you need 250 troy ounces of platinum and the current futures price is $860 per ounce. How many contracts do you need to purchase? How much will you pay for your platinum? What is your dollar profit if platinum sells for $910 a troy ounce when the futures contract expires? What if the price is $810 at expiration? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest whole number.)
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