trading places train scene

A contract to sell, say, 1000 pounds of FCOJ at $1.50 per pound in February merely indicates the seller's obligation to provide and the buyer's obligation to purchase the product at the specified price and time. tnx for the clarification, i been wondering the same questions ever since i watched the movie... You beat me to it on point 4], about the trading on margin. So in practical terms every contract is for 15,000 pounds of OJ at $1.45/pound. . 2. The price of a commodity will be stopped if it ever fluctuates more than 10 cents (either direction) during one trading day. They start selling contracts at $1.42 (a $4,260,000 if it was a 200-1.42 April). Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. GET AD-FREE WHOSAMPLED PREMIUM! A great movie with a fab cast, and my limited knowledge of the stock market stumping me as to how buying for a high price and selling for a low price would make money. Search, discover and share your favorite Trading Places GIFs. The videos, photography, art and assorted stuff of ne033x. For ease of calculation, we can think of it as them trading on average at $1.22. The scene involving Valentine and Winthorpe when they come face to face in the back of taxi/limo was filmed outside the hall in Philadelphia where the declaration of indepenence was signed, the road was blocked off in 2004 when I visited, its a great place. Create a free website or blog at WordPress.com. For example, Wise Bread has partnerships with brands including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi, Discover, and Amazon. But they do not affect the actual opinions and recommendations of the authors. This, though, makes the blacking-up scene â¦ Saved from youtube.com. I just said "ohhhhhhhhh!" Maybe we'll revisit it around Christmas, when they tend to play this movie nonstop. But revenue considerations do not impact the objectivity of our content. Low price was .29 with most trades happening in between. Funny scenes from the film trading places. So a better estimate of their profit based on your figures is: (122 cents/pound - 37.5 cents/pound) * 15000 pounds/contract * 20000 contracts = $253,500,000. Wise Bread is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com. Though it is not stated in the movie exactly how much they make, if they invested roughly $500,000 from a combination of Winthorpe/Valentine's investment, the Duke's money from buying the "fake" report from a fake Clarence Beeks (Paul Gleason) and Coleman's and Ophelia's savings, they would have turned it into over $2.7 million. Like many news outlets our publication is supported by ad revenue from companies whose products appear on our site. With FCOJ futures, every contract is for 15,000 pound of orange solids. I learned earlier trading on inside information wasn't illegal until Dodd-Frank, unless (I suspect) the government found out there was chicanery going on about stealing the report. Add a Quote. Trading Places (1983) Nengue & Lionel Meet on the Train. But when the crop turns out to be normal the "fit hits the shan" for the Dukes but not for the good guys. you couldn't borrow as much), they were ruined. Change ), You are commenting using your Twitter account. In English that means that the person A is promising to buy and seller B is promising to sell 3,000,000 pounds of orange solids at $1.45 per pound due in April (a $4,350,000 transaction). Rich old men Randolph and Mortimer Duke (Ralph Bellamy and Don Ameche) get their comeuppance after swapping the lifestyles of beggar Billy Ray Valentine (Eddie Murphy) and stockbroker Louis Winthorpe III (Dan Aykroyd) for a bet. Why didnt billy ray and lewis just wait for the price of FOJ to drop at its lowest before they start buying? Also, the cash they hand on hand didn't really matter, as they were trading on margin. Then, when the price falls as a result of the release of the real crop report indicating a good harvest, Winthorpe and Valentine buy futures at roughly $0.22 per unit. Thanks for explaining it in a way I can finally grasp! Did the author think about simple facts as these? FINALLY!!! Voila! You can understand why- if somebody drives the price up 10 cents by themselves, they either know something (and they will spend the better part of their lives in prison) or they are setting themselves up to be bankrupt. Updated: August 1, 2020 By: Ross. It was well past time to level the playing fields between races and classes.