f = s *( 1+I)/( 1+I)=[ 1.40 10 *( 1+2.5%)/( 1+4.5%)]/[
3M USD/JPY = [103.00 * (1+2%)/(1+5%)]/[104.00 * (1+2%)/(/)
If the 3-month forward price is lower than the spot price, the customer can arbitrage by buying the near yen and the far dollar, and the near dollar is 65,438+0 million (65,438+000 * 65,438+003.00) = 65,438+00,300 yen. 300/101.03) =10/.95 million USD, from which arbitrage =101.95-100.00 =
If USD/JPY =108.00/109.00,109.00 is greater than the remote swap price 10 1.03 after three months, the customer is profitable and the potential profit is =1.
Each contract requires a deposit of $3,000, and the purchase of two contracts requires $6,000.
If the market quotation on a certain day is GBP/USD = 1.5800, the loss of each contract is = 62500 * 0.0200 = 1.250, and the loss of two contracts is * * * 2500.
According to the requirements, two futures contracts need to maintain a minimum deposit of $4,000. At present, the remaining deposit amount is 6000-2500 USD = 3500, and it is required to recover the deposit, and the recovered amount is 4000-3500 USD = 500.
Customer option fee =100 * 3% = USD 30,000 = 3/1.2500 = EUR 24,000.
Six months later, the spot EUR/USD = 1.2200 is lower than the agreed option price 1.3500. At the time of exercise, customers need Euros =100/1.3500 = 740,700 euros, and buy USD at the price of1.3500. For example,
The customer's profit and loss = 81.97-(74.07+2.4) = 55,000 euros, so the profit of this transaction is 55,000 euros.