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The E-mini Dow futures contract traded on the Chicago Mercantile Exchange has a contract unit...

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Finance

  1. The E-mini Dow futures contract traded on the Chicago Mercantile Exchange has a contract unit of $5 x Dow Jones Industrial Average. On a Thursday morning, you sell one contract at a dealers quote of 24,940. The Dow closes Thursday at 24,475, opens Friday at 23,978, and closes Friday at 24,570.
    1. What is the value of the short futures position the instant before closing on Thursday? (1 point)
    2. What is the value of the short futures position at the open on Friday? (1 point)
    3. What is the value of the short futures position the instant after closing on Friday? (1 point)

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