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Help on Orange Juice (OJ)
Orange Juice Futures are traded on the New York Cotton Exchange.
The price of Orange Juice is quoted in cents per pound. The standard
contract size is 15,000 pounds. The minimum trading increment
is a 0.01 cents.
Orange Juice prices are read as follows:
A price of 121.70 would be read as $1.2170/pound or 121.70 cents
per pound.
A move from 121.70 to 122.70 would be a difference of $150.00
excluding commissions and fees. The minimum change is 0.01 cents
or $1.50
Formula: $1.2270 - $1.2170 = $0.0100 *15,000 = $150.00
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