The payoffs in both equitizing a cash position and turning equity into cash confuse me. The answer in 3c states: netting the futures payoff against the stock position producees 25,157,150. What is being subtracted from what to arrive at that figure?
The payoffs in both equitizing a cash position and turning equity into cash confuse me. The answer in 3c states: netting the futures payoff against the stock position producees 25,157,150. What is being subtracted from what to arrive at that figure?