If it is a call option, the value of the warrant is $65,438+000. Therefore, in order to lock in the income, every time you buy a warrant contract, you will throw out 65,438+000 shares (equivalent to 40 buying and 465,438+0 selling), so the risk-free arbitrage income of each warrant is $65,438+000.
The second question means that the initial deposit is 3000 dollars, and you can buy 5000 bushels of wheat. The unit price of wheat was $2.50 per bushel, and then he added a deposit of $2,000. Therefore,
The margin ratio is 3000/(5000*2.5)=24%, so the 5000 margin can be shorted at most by 5000/0.24=20833.33, that is, if the money per bushel of wheat is less than 20833.33/5000 = $4.17 = 4/. If you want to withdraw 1500 USD, there is still a deposit of 3500 USD. You can short 3500/0.24= 14583.33, which is equivalent to the unit price of 14583.33/5000 = 2.92 USD per bushel of wheat. It doesn't matter.
3. First, correct the mistakes in your topic. Fwith is marked with an extra F, and the year of continuous compound interest means continuous compound interest. I changed it to 360 days. Theoretically, it is lim n→ positive infinity (1+12%/n) n.
The risk-free rate of return is 8%, the risk rate of return is 4%, and the total rate of return is 12%. What is the contract value after four months? What is or stock index? Find the final value of known present value.
Enter it yourself in excel, = Fv (12%/360, 120, -350, 1) = 364.28.
4. As mentioned above, the value and present value of forward contracts due within one year = Fv( 10%/360360, -40 1)= 44.2 1. Secondly, if the stock price is 45 after half a year, the contract price = Fv (65438). It should be quantity and energy, and depreciation is always certain, because theoretically forward price = spot or cash price+holding cost, so if there is no premium, the discounted value is 0.