March 19, 2021, spot is $1.37/Ă‚ÂŁ. British Pound Option Prices (in cents per pound and with 62,500 pounds per contract) allow a purchaser to pay 0.15 cents per pound to purchase an April call with an exercise price of 1440 ($1.44/Ă‚ÂŁ). What is the total purchase price of 3 such call options in dollars? (No currency labels are necessary, answer in dollars and round to two decimal places)
2. Paribas Inc bought a 3-month yen futures contract at an exchange rate of 0.0085SF/Ă‚ÂĄ and in a few weeks, the exchange rate on the futures was at 0.0088SF/Ă‚ÂĄ, when they sold the futures. If each futures contract is for an amount of Ă‚ÂĄ10,000,000, in Swiss Francs (SF) how much money did they gain or lose from this speculation with futures? (No currency labels are necessary, answer without decimal places)
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