-19- Tandrill realized gains and losses in 1979 and 1980 from commodity futures transactions, with respect to which Bache was the broker, in the following amounts: Net Gain/Loss Net Gain/Loss Commodity 1979 1980 Silver ($1,402,729.30) $738,631.30 Gold ( 264,033.00) 207,874.60 T-Bill futures 199,502.00 (44,448.80) Copper ( 105,440.00) (35,821.10) Other --- (16,940.90) Total (1,572,700.30) 849,295.10 In 1980, Tandrill entered into futures transactions in copper, gold, sugar, Treasury bills, Treasury bonds, and GNMA's through ACLI. Tandrill realized $749,143.50 in net losses with respect to the commodity futures transactions. For example, on June 26-27, 1980, Tandrill entered into a "spread of a spread" involving GNMA and Treasury bond contracts: (a) It purchased 30 March 1981 GNMA contracts and sold 30 September 1981 GNMA contracts; and (b) it purchased 30 September 1981 Treasury bond contracts and sold 30 14(...continued) 11/27/79 12/26/79 3 Dec. 80 Silver 29 87 11/14/79 11/21/79 10 Mar. 80 Copper 7 70 11/14/79 11/23/79 10 Mar. 80 Copper 9 90 11/21/79 12/03/79 10 July 80 Copper 12 120 11/23/79 12/03/79 10 July 80 Copper 10 100 11/26/79 12/13/79 20 July 80 Copper 17 340 11/26/79 12/19/79 20 July 80 Copper 23 460 11/26/79 12/07/79 20 Sept. 80 Copper 11 220 TOTALS 985 11,922 Average days per transaction 13.56 Average days per contract (11,922/985) 12.10Page: Previous 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Next
Last modified: May 25, 2011