Y!Finance isn't very helpful today for some reason. If the price for a futures contract on copper is $3.07 for delivery in August, can that be directly translated to a market price of copper per ounce or pound? Or is it only a "right to sell"?
Is there a copper ETF? Again, Y!Finance browser isn't helpful today.|||futures do not have rights...
with a future both parties get the obligation to meet the agreement.
a price of a future contract is always the price per unit. the contract itself is worthless (it has no price) you merely pay provision for the transaction. once in position the clock starts ticking. every cent change upwards is 200 cents profit for you. each cent downwards is 200 cent loss for you.
DO NOT INVEST IN FUTURES IF YOU DO NOT KNOW ANYTHING ABOUT THEM.
you can loose a lot, and a lot! of money very very very quickkly. you can loose more than you initially invested. and right now the world record of losses on a future position would be on name of Jerome Kerviel. who lost society general ( a french bank) 4.9 million euros and failed to inform his boss.
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