1, 65438+February 10 will receive the spot S $3 million delivered by the customer, so hedging should be carried out in the same transaction amount and in the opposite direction, that is, the S $3,000,000 futures contract delivered in June 65438+February1250,000 will be sold. Need to pay USD 3,000,000 * 0.60754 = 65,438+0,822, 620 yuan. If the spot exchange rate of 65,438+02, 10 is USD 0.5900/S $,the spot exchange rate of RMB 3 million paid by customers can be converted into USD 3 million *. The profit of futures trading is USD 3 million *(0.60754-0.5900)= 52620 yuan, and the spot loss is USD 3 million * (0.5950-0.5900) =1.5000 yuan. Therefore:
The profit gained by multinational companies through hedging is: 52,620-65,438 USD+05,000 = 37,620 RMB.
2. The number of option contracts purchased by the Company is: 1250000/62500=20, the option fee paid is: 0.065438 USD +0 * 1250000 = 12500 RMB, and the income from exercising the option on the maturity date is 65438 USD.
3. Taking the option contract amount of 65,438+00000 yen per share as an example, if the company buys a two-way option contract of 65,438+0000000 yen, it will have to pay an option fee of 65,438 USD +0000000 * 0.000268 = 268 yuan. The commission is USD 65438+0000000 * 0.5/10 = 45.45 yuan, so * * pays the option fee and commission: USD 365438 +03.45 yuan, and the agreed price is JP 65438+.
When the market exchange rate is $65,438 +0 = JP 100, the company's profit and loss is $65,438+0,000,000 * (0.01-0.008929)-313.45 = 757.55 yuan;
When the market exchange rate is $65,438 +0 = JP 125, the company's profit and loss is $65,438+0000000 * (0.008929-0.008)-313.45 = 615.55 yuan;