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Dec 30th, 2023
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 Re: Math question for the mathletes on here.
[Re: Mark Perry]
#12436164
09/21/17 11:49 PM
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Joined: Nov 2010
Posts: 12,094
Urban Fisher
TFF Guru
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TFF Guru
Joined: Nov 2010
Posts: 12,094 |
LOL!!! Great answer! It took me forever to type the carp (the answer) on my phone. I'm impressed...
Jane says I've never been in love - no
She don't know what it is
She only knows if someone wants her
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Re: Math question for the mathletes on here.
[Re: Urban Fisher]
#12436166
09/21/17 11:51 PM
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Joined: Sep 2016
Posts: 10,305
Floon Swenson
TFF Guru
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TFF Guru
Joined: Sep 2016
Posts: 10,305 |
Floon, (wouldn't let me quote...too many re-quotes) Well that is still the wrong answer. Just poking at you cause you mentioned you work in the financial field. Just don't mention that again!!!...Just kidding man! This one was a trick question by me. The guy shorted the horse (sold it without owning it hoping it's value will go down and buy it back for delivery at a lower price). He got scared as his horse value went up and he bought it back at $70. Netting him a $10 loss. A "covered" call means he owns the horse. He sold it short and does not actually own the horse. So by definition he can't sell the "covered" call. So the answer is he lost $10 on buying back to cover his short position. I gotcha. Read up at my comments above. But you almost slipped that one by me!
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Re: Math question for the mathletes on here.
[Re: Floon Swenson]
#12436168
09/21/17 11:52 PM
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Joined: Nov 2010
Posts: 12,094
Urban Fisher
TFF Guru
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TFF Guru
Joined: Nov 2010
Posts: 12,094 |
Floon, (wouldn't let me quote...too many re-quotes) Well that is still the wrong answer. Just poking at you cause you mentioned you work in the financial field. Just don't mention that again!!!...Just kidding man! This one was a trick question by me. The guy shorted the horse (sold it without owning it hoping it's value will go down and buy it back for delivery at a lower price). He got scared as his horse value went up and he bought it back at $70. Netting him a $10 loss. A "covered" call means he owns the horse. He sold it short and does not actually own the horse. So by definition he can't sell the "covered" call. So the answer is he lost $10 on buying back to cover his short position. I gotcha. Read up at my comments above. But you almost slipped that one by me! I just now saw them. I agree you got the right answer and very timely I might add. Yes, it was a trick question, but you nailed it!
Jane says I've never been in love - no
She don't know what it is
She only knows if someone wants her
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Re: Math question for the mathletes on here.
[Re: Mark Perry]
#12436172
09/21/17 11:55 PM
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Joined: May 2016
Posts: 312
BASS GURU
Angler
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Angler
Joined: May 2016
Posts: 312 |
the answer is $20.00 other than that, this thread sheds a whole new light on a number of our members  Amen! For those who answered anything other than $20, you're getting hung up on the fact that "he bought the horse back." Like Ojai Angler pointed out, take the "same horse" out of the equation. Man buys A horse for $60 and sells it for $70. Man buys Another horse for $80 and sells it for $90. Simpler now? Kudos to Mark for starting what has been a very entertaining thread. I think MOST of the wrong answers were intentional  I can use all the laughs I can get these days, been rough lately......  In better news we are waiting on our new grandson to be born....should be within the next 24hrs I hope. We are headed to hospital after daughter and son in law get settled in their room.  A new baby is born somewhere every few seconds, but when it happens to you or your family it's a whole 'nother ball game. Hope all goes well.
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Re: Math question for the mathletes on here.
[Re: Mark Perry]
#12436174
09/21/17 11:59 PM
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Joined: Oct 2010
Posts: 16,252
Rob W.
TFF Guru
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TFF Guru
Joined: Oct 2010
Posts: 16,252 |
Y'all still arguing over this? It was $20 hours ago and it's still $20.
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Re: Math question for the mathletes on here.
[Re: Mark Perry]
#12436199
09/22/17 12:19 AM
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Joined: Aug 2015
Posts: 3,987
Pintail711
TFF Team Angler
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TFF Team Angler
Joined: Aug 2015
Posts: 3,987 |
$10... you were in the hole $10 when you bought him back for $80
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Re: Math question for the mathletes on here.
[Re: Pintail711]
#12436221
09/22/17 12:29 AM
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Joined: Oct 2010
Posts: 16,252
Rob W.
TFF Guru
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TFF Guru
Joined: Oct 2010
Posts: 16,252 |
$10... you were in the hole $10 when you bought him back for $80  you were up $10. Bought for $60 & sold for $70.
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Re: Math question for the mathletes on here.
[Re: Mark Perry]
#12436517
09/22/17 06:59 AM
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Joined: Jul 2004
Posts: 266
Team Skeeter 41
Angler
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Angler
Joined: Jul 2004
Posts: 266 |
It depends on what you consider profit. Profit made on the individual transactions, or the actual amount you end up with in your pocket after all the transactions.
If you go buy the individual transactions, then it's 20 dollars. If you go by how much is actually in your pocket after all the transactions, then its 10 dollars.
Bought horse for 60 dollars. Sold horse for 70 dollars. 10 dollar profit.
Bought back horse for 80 dollars. 10 dollars more than you sold the horse for negating the 10 dollar profit from before. Back to 0. Sold the horse for 90 dollars. 10 dollars more than you bought back the horse for. 10 dollar profit. So after all the transactions you walk away with 10 dollars in your pocket.
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Re: Math question for the mathletes on here.
[Re: Mark Perry]
#12436521
09/22/17 08:17 AM
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Joined: May 2007
Posts: 45,105
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 45,105 |
SMDH I truly hope some of you are just trolling lol.
Last edited by WAWI; 09/22/17 08:24 AM.
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Re: Math question for the mathletes on here.
[Re: Team Skeeter 41]
#12436525
09/22/17 08:30 AM
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Joined: Sep 2016
Posts: 10,305
Floon Swenson
TFF Guru
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TFF Guru
Joined: Sep 2016
Posts: 10,305 |
It depends on what you consider profit. You own two horses - a team that pulls a wagon. You paid $140 for the team ($60 for one, $80 for the other). A guy wants to buy your team. He pays you $160 for the team ($70 for one, $90 for the other). You bought the team for $140 and sold it for $160. That's $20 profit any way you slice it.
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Re: Math question for the mathletes on here.
[Re: Mark Perry]
#12436526
09/22/17 08:48 AM
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Joined: Jul 2004
Posts: 266
Team Skeeter 41
Angler
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Angler
Joined: Jul 2004
Posts: 266 |
Yeah your right. That is a 20 dollar profit because he never bought back the team for 10 dollars more than he sold them for like the person did in the scenario were all talking about.
So you're saying that buying the horse back for 80 dollars, 10 dollars more then he sold it for doesn't offset the 10 dollar profit he made when he sold the horse for 70 dollars?
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Re: Math question for the mathletes on here.
[Re: Team Skeeter 41]
#12436527
09/22/17 08:52 AM
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Joined: Sep 2016
Posts: 10,305
Floon Swenson
TFF Guru
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TFF Guru
Joined: Sep 2016
Posts: 10,305 |
So you're saying that buying the horse back for 80 dollars, 10 dollars more then he sold it for doesn't offset the 10 dollar profit he made when he sold the horse for 70 dollars? That's exactly what I'm saying, yes. The original $10 profit is not offset by anything. You keep that $10, then add the second $10 to it. So you make $20.
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Re: Math question for the mathletes on here.
[Re: Floon Swenson]
#12436528
09/22/17 09:01 AM
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Joined: Oct 2016
Posts: 268
bluecatlakerat
Angler
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Angler
Joined: Oct 2016
Posts: 268 |
Look at it this way, start with $70 in your pocket take out 60 and buy a horse and leave 10 in your pocket, sell that horse for 70 and put that in your pocket, now you have 80 in your pocket, buy horse again dor 80 and sell for 90 now you have 90 in your pocket, you originally started with 70 in your pocket now you have 90 in your pocket
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Re: Math question for the mathletes on here.
[Re: Team Skeeter 41]
#12436529
09/22/17 09:07 AM
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Joined: May 2007
Posts: 45,105
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 45,105 |
Yeah your right. That is a 20 dollar profit because he never bought back the team for 10 dollars more than he sold them for like the person did in the scenario were all talking about.
So you're saying that buying the horse back for 80 dollars, 10 dollars more then he sold it for doesn't offset the 10 dollar profit he made when he sold the horse for 70 dollars? Yes that is what he is saying and he is correct. You made 20 bucks,
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Re: Math question for the mathletes on here.
[Re: butch sanders]
#12436530
09/22/17 09:11 AM
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Joined: May 2007
Posts: 45,105
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 45,105 |
i still say $10
but
is Hop correct? I'm sure if you and hop get together and maybe pick up gpa too the three of you can come up with something lol.
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