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# Reading the newspaper

 Precious Metals Gold Comex (100 Troy oz; $/troy oz) Sett price Dayâ€™s chge High Low Vol â€™000s 0 int â€™000s Dec 738.7 -8.5 748.5 736.7 111.8 300.3 Feb 745.0 -8.6 754.8 743.5 6.00 31.86 Total 123.7 449.5 • Settlement price: this price is used for margin call calculations at end of trading day • Change : -$8.5 per troy ounce. Hence, total of 100*$8.5=$850 reduction in margin account balance
• Open interest: total number of contracts outstanding with the exchange. It is the total number of long positions / the total number of short positions. It is one trading day older than the pricesâ€™ day.
 Time Trading Activity Open Interest Jan 1 A buys 1 option and B sells 1 option contract 1 Jan 2 C buys 5 option and D sells 5 option contract 6 Jan 3 A sells his 1 option and D buys 1 options contract 5 Jan 4 E buys 5 options from C who sells 5 options contracts 5