Add training workflow, datasets, and runbook
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490A COMPleTe gUIde TO THe FUTUreS MArKeT
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be illustrated later in this section, for any given price scenario, some option-based strategy will often
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provide a more attractive trade in terms of reward/risk characteristics.
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Strategy 2: Short Futures
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exAMPle . Sell August gold futures at $1,200. (See Table 35.2 and Figure 35.2 .)
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tabLe 35.2 profit/Loss Calculations: Short Futures
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Futures price at expiration ($/oz) Futures price Change ($/oz) profit/Loss on position
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1,000 200 $20,000
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1,050 150 $15,000
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1,100 100 $10,000
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1,150 50 $5,000
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1,200 0 $0
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1,250 –50 –$5,000
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1,300 –100 –$10,000
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1,350 –150 –$15,000
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1,400 –200 –$20,000
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FIGURE 35.1 Profi t/loss Profi le: long Futures
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Price of August gold futures at option expiration ($/oz)
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Profit/loss at expiration ($)
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1,000
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20,000
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15,000
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10,000
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5,000
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−5,000
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−10,000
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−15,000
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−20,000
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0
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1,050 1,100 1,150 1,200 1,250 1,300 1,350 1,400
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