Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 02 Oct 2017 My Price 5.00

shares of JKI stock

Suppose you desire to short-sell 400 shares of JKI stock, which has a bid price of $25.12 and an ask price of $25.31. You cover the short position 180 days later when the bid price is $22.87 and the ask price is $23.06.

a. Taking into account only the bid and ask prices (ignoring commissions and interest), what profit did you earn?

b. Suppose that there is a 0.3% commission to engage in the short-sale (this is the commission to sell the stock) and a 0.3% commission to close the short-sale (this is the commission to buy the stock back). How do these commissions change the profit in the previous answer?

c. Suppose the 6-month interest rate is 3% and that you are paid nothing on the short-sale proceeds. How much interest do you lose during the 6 months in which you have the short position?

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Oct 2017 01:10 PM My Price 5.00

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