On 27th September 2010, around 11:00 GMT, the price of crude oil futures, (November Expiry), was 77.70(bid) - 77.76(offer).

You believe the price of oil will drop so you take a sell position of 100 barrels, (equivalent to $1 per tick), at the bid price of $77.70 per barrel.

You were correct, and the price of oil did drop and a few hours later, around 16:00 GMT, the price of crude oil was at
76.74(bid) -76.80 (offer).

You decide to realize your profit and close the position at the offer price of $76.80 per barrel. The price of this oil futures contract dropped by 90 cents per barrel,and as you had a sell position of 100 barrels;you realized $90 profit, ($0.90 per barrel X 100 barrels).

SUMMARY Open Price $77.70 Close Price $76.80 Difference $0.90 (90 ticks) Profit $90

The cut-off time for all Finance Fees calculations, and also generating statements, is set for all our products to 20:00 GMT when Daylight Saving Time applies in the US and 21:00 GMT when the US changes back to Standard Time. All orders executed before the cut-off time will appear on today's statement. All orders executed after the cut-off time will appear on next day's statement.