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Martha Graham of Superior Speculators Inc just read today's report that reflects these prices for the...

Martha Graham of Superior Speculators Inc just read today's report that reflects these prices for the futures June contract on silver: Open 19.435, High 19.450, Low 19.025, Settle 19.119, and Chg .369. Martha knows that the futures contract on silver is based on 5,000 troy ounces and is priced in dollars and cents per troy ounce.\

What is the price per troy ounce that will be used for today's marking-to-market for her contract?

Solutions

Expert Solution

closing price of the day or the settlement price will always be used for settlement of the contract in case of commodities so selling price of 19.119 will be used for marking to market for her contract.

Correct answer will be 19.119

jeff jeffy answered 2 years ago
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