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Hi David, I just wonder why chapter 26 of Hull isn't included in study notes and question set.. Thanks

150.1. If the forward curve for a consumption commodity exhibits backwardation, when should the short position in a futures contract elect to make physical delivery? a. It makes no difference when, as long as the short delivers within the allowable period b. The short does not have a choice as...

In the note, there is a comparison between true yield and discount rate. I wonder if true yield is YTM. Thanks a lot

Hey guys, When I read through the notes, I'm confused by one sentence: For a non-dividend-paying investment asset (i.e., an asset which has no storage cost) the cost of carry model says the Futures price is given by.... I guess when gold and silver are viewed as investment assets, storage...