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Sir i just wanted to ask in part a the examiner has not used whole number contracts has used 23 when option is 1.62
If we used 24 we would be overhedging and thus not be using forwards on the amount as in examiners answer
I know you taught us to do round number contracts so we would get full marks na?Contracts can only ever be purchased in whole numbers.
The calculation comes to 23.7. It doesn’t matter whether you round up or down – I would have rounded to 24 contracts (being the nearest) and although the final result would be a little different it would still get full marks.
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