Thanks Martinghoul. Obviously, spot profit would have to include a pv of the forward profit. The futures will have a beta greater > 1 (cf of ctd...
My question really boils down to, why does the exchange set the profit/loss (variation margin) on the futures = to soly the change in the futures...
Hi there, I have been reading these forums off and on for the last couple months. I thought that you guys might be able to give this question...
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