miffy2019-10-30 21:45:42

Q. If an investor uses derivatives to make a long investment in commodities, the return earned on margin is best described as: A. convenience yield. B. collateral yield. C. price return. B is correct. Collateral yield is the return on cash used as margin on derivatives used to gain commodity exposure. A is incorrect because the convenience yield (also known as “roll yield”) is the return from rolling forward the maturity of the derivatives position. C is incorrect because price return is the difference between the forward and spot price. 请问老师，这个题目怎么理解？