Actually, you didn’t read the question carefully. If you were more serious, you would understand everything.

1. The Future Price is 100 pounds. This is given by the title on the first page. The following words are the contract expiring in November 2003.

The 150 pounds is given in the first line of the second page, which says "the price on the delivery day is 150 pounds."

In other words, A, B, and C all opened positions at 100 pounds per ton. A is long and has hedging, B is short and has no hedging, and C does not participate in physical delivery. , close the position before the contract expires.

2. Regarding the profit on futures contract

In fact, you will understand it after reading the question.

The question says that A bought 100 tons from the spot market at a price of 150 pounds, which means he spent 15,000 pounds,

minus the profit on futures contract< /p>

100*(150 - 100) = 5,000 pounds

150 is the closing price minus 100 is the opening price.

So, A’s net cost is ￡10,000.

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Uh~~~I don’t know if I made it clear, but it’s just a translation of the title. If you look at the question carefully, you should understand.