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Today you are long a heating oil forward contract for March delivery in Chicago @ $ 1.54/gal and short a

NYMEX March heating oil (HOH) contract at $1.54.

On February 18 you sell a March Chicago HO vs NYMEX HOH basis at < $.05> the board. You negotiate an EFP

with your counter party @ $1.60/gal

a).  How much $ did you make (+ or -) in $ per gal

b). Show the cash flows of the trade

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