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Dear Mr. John,
Question 2 of Dec exam stated that now are 1 Dec 2014 and expect to borrow on 1 Feb 2015 -> it is two month time to start the loan, and close out the option.
The answer said it is 3 month time, however.
is that a mistake, Mr. John?I am looking at the examiners answer, and I cannot see any reference to the loan starting in 3 months time.
(The answer has divided by 3 in several places, but this is because they are 3 months futures and we always divide by 3 (or take 3/12 in other places) – that has nothing to do with when it is the loan starts.)
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