On a given day a bond broker maintains a bid of $1,011.00 for a bond and an ask
ID: 2636934 • Letter: O
Question
On a given day a bond broker maintains a bid of $1,011.00 for a bond and an ask price of $1,015.00. The broker made 28 trades that totaled 1,400 bonds traded that day. What was the broker's gross trading profit for this security?
rev: 02_21_2014_QC_44798, 05_13_2014_QC_49536
On a given day a bond broker maintains a bid of $1,011.00 for a bond and an ask price of $1,015.00. The broker made 28 trades that totaled 1,400 bonds traded that day. What was the broker's gross trading profit for this security?
Explanation / Answer
Spread = Ask price