Date Spot Prices Log returns(SP) Futures SettlemeLog returns(FP)

29-Oct-20 7,117.70 7,117.60

28-Oct-20 7,186.05 0.415% 7,173.75 0.341%
27-Oct-20 7,158.40 -0.167% 7,160.95 -0.078%
26-Oct-20 7,054.80 -0.633% 7,052.90 -0.660%
23-Oct-20 7,103.25 0.297% 7,107.45 0.335% Spot Prices and Future Prices
22-Oct-20 6,811.55 -1.821% 6,832.55 -1.713%
Spot Prices Futures Pric
21-Oct-20 6,861.85 0.320% 6,883.25 0.321%
20-Oct-20 6,844.60 -0.109% 6,867.807,400.00 -0.098%
19-Oct-20 6,851.95 0.047% 6,876.45 0.055%
7,200.00
16-Oct-20 6,894.90 0.271% 6,920.15 0.275%
15-Oct-20 6,892.60 -0.014% 6,912.907,000.00 -0.046%
14-Oct-20 7,002.35 0.686% 7,028.70 0.721%
13-Oct-20 7,032.90 0.189% 7,063.956,800.00 0.217%
12-Oct-20 7,136.65 0.636% 7,148.40 0.516%
6,600.00
9-Oct-20 7,062.40 -0.454% 7,097.90 -0.308%
8-Oct-20 7,079.85 0.107% 7,099.606,400.00 0.010%
7-Oct-20 7,046.90 -0.203% 7,070.40 -0.179%
6-Oct-20 6,892.40 -0.963% 6,917.906,200.00 -0.947%
5-Oct-20 6,818.85 -0.466% 6,857.80 -0.379%
1-Oct-20 6,796.30 -0.144% 6,820.106,000.00 -0.239%
30-Sep-20 6,743.45 -0.339% 6,779.60 -0.259%
5,800.00
29-Sep-20 6,742.75 -0.005% 6,774.35 20-Aug-20
-0.034%
27-Aug-20 3-Sep-20 10-Sep-20 17-Sep-20 24-Sep-20 1-Oct-20
28-Sep-20 6,703.00 -0.257% 6,741.15 -0.213%
25-Sep-20 6,497.70 -1.351% 6,516.35 -1.473%
24-Sep-20 6,297.70 -1.358% 6,330.75 -1.255%
Open Interest and Trade Volume tre
23-Sep-20 6,501.30 1.382% 6,538.60 1.403%
22-Sep-20 6,440.55 -0.408% 6,481.15 -0.383% Volume Open Interes
21-Sep-20 6,626.95 1.239% 6,669.353000000 1.243%
18-Sep-20 6,964.75 2.159% 7,006.10 2.139%
17-Sep-20 7,085.85 0.749% 7,133.652500000 0.784%
16-Sep-20 7,057.95 -0.171% 7,110.00 -0.144%
15-Sep-20 7,052.80 -0.032% 7,101.85 -0.050%
2000000
14-Sep-20 7,128.85 0.466% 7,176.30 0.453%
11-Sep-20 7,193.60 0.393% 7,245.30 0.416%
1500000
10-Sep-20 7,231.65 0.229% 7,287.35 0.251%
9-Sep-20 7,215.25 -0.099% 7,269.00 -0.109%
8-Sep-20 7,224.00 0.053% 7,253.301000000 -0.094%
7-Sep-20 7,209.15 -0.089% 7,259.35 0.036%
4-Sep-20 7,190.10 -0.115% 7,249.15500000 -0.061%
3-Sep-20 7,072.60 -0.716% 7,122.40 -0.766%
2-Sep-20 6,920.75 -0.943% 6,983.80 0 -0.853%
1-Sep-20 6,905.65 -0.095% 6,964.55 20-Aug-20
-0.120%
27-Aug-20 3-Sep-20 10-Sep-20 17-Sep-20 24-Sep-20 1-Oct-20
31-Aug-20 6,839.95 -0.415% 6,885.25 -0.497%
28-Aug-20 7,104.10 1.646% 7,138.70 1.570%
27-Aug-20 7,098.00 -0.037% 7,153.50 0.090%
26-Aug-20 7,008.65 -0.550% 7,057.20 -0.589%
25-Aug-20 7,109.95 0.623% 7,119.95 0.384%
24-Aug-20 7,082.50 -0.168% 7,105.05 -0.091%
21-Aug-20 6,973.00 -0.677% 7,009.00 -0.591%
20-Aug-20 6,974.70 0.011% 7,031.95 0.142%
 Annualized Volatility
Spot Price 0.114917
Futures Settlement Price 0.112186

Spot Prices and Future Prices (Daily)

Spot Prices Futures Prices

ug-20 3-Sep-20 10-Sep-20 17-Sep-20 24-Sep-20 1-Oct-20 8-Oct-20 15-Oct-20 22-Oct-20 29-Oct-20

Open Interest and Trade Volume trend (Futures)

Volume Open Interest

ug-20 3-Sep-20 10-Sep-20 17-Sep-20 24-Sep-20 1-Oct-20 8-Oct-20 15-Oct-20 22-Oct-20 29-Oct-20
 2.) There is almost no transaction volume and open interest prior to 17th Sept for futures expiring on 29th Oct. At the 17th O
point, there is a sharp increase in both open increase as well as transaction volume, almost in lockstep, till around 20th Sept
Post 20th Sept, Open interest declines and fluctuatutes around a declining mean value. Transaction volume soars ahead of op
interest for a day or so and then stabilizes to a higher mean value, and remains stable. Transaction volume rapidly declines
around 2nd october while open interest spikes up. The open interest continues to rise till 28th Oct and then, falls rapidly.

3.) The spot prices and futures prices(expiring on 29th Oct) are almost in lockstep with each other throughout the period. Th
futures prices are always greater than the spot price but by a very thin margin, and they converge post 22nd Oct.

4.) From the calculations done on the analysis sheet, the volatility of futures prices is less than that of spot prices.

1.) The firm uses futures, primarily to reduce exposure to commodity risk. The commodities in question include steel, alu
palladium.Their hedging policy allows for futures as an instrument, with Forward contracts and range forward options as OT
period of 0-12 months on budgeted exposure, while it is 50% for a period of 12-24 months on projected/ estimated exposure
currency risk. They use forward foreign and options contracts for mitigating foreign currency risk, while they also use foreign
dinterest rate risk on foreign currency loans.

5.) The firm had a board meeting on 29th Oct. No other significant corporate actions took place for the
 ng on 29th Oct. At the 17th Oct
lockstep, till around 20th Sept.
tion volume soars ahead of open
action volume rapidly declines
th Oct and then, falls rapidly.

her throughout the period. The

converge post 22nd Oct.

hat of spot prices.

s in question include steel, aluminium, copper, lead and rare metals like platinum,
d range forward options as OTC instruments. The hedge ratio for the firm is 75% for a
projected/ estimated exposures. They also use derivaties contracts to mitigate foreign
k, while they also use foreign currency swaps for mitigating foreign currency risk onan
gn currency loans.

ate actions took place for the firm during that period.
Date series OPEN HIGH LOW PREV. CLOSE ltp close vwap
29-Oct-20 EQ 7,114.00 7,199.00 6,986.70 7,186.05 7,084.00 7,117.70 7,092.42
28-Oct-20 EQ 7,194.95 7,332.00 7,110.00 7,158.40 7,173.00 7,186.05 7,240.73
27-Oct-20 EQ 7,067.00 7,209.75 7,053.00 7,054.80 7,148.00 7,158.40 7,139.86
26-Oct-20 EQ 7,100.00 7,161.30 6,935.05 7,103.25 7,056.50 7,054.80 7,056.34
23-Oct-20 EQ 6,858.00 7,124.70 6,832.00 6,811.55 7,102.00 7,103.25 7,021.17
22-Oct-20 EQ 6,828.00 6,860.00 6,775.20 6,861.85 6,809.00 6,811.55 6,808.01
21-Oct-20 EQ 6,904.00 6,947.60 6,764.65 6,844.60 6,860.00 6,861.85 6,876.18
20-Oct-20 EQ 6,817.00 6,949.00 6,810.00 6,851.95 6,845.00 6,844.60 6,877.34
19-Oct-20 EQ 6,975.00 6,980.00 6,825.00 6,894.90 6,845.55 6,851.95 6,873.55
16-Oct-20 EQ 6,895.00 6,980.00 6,863.00 6,892.60 6,905.00 6,894.90 6,920.24
15-Oct-20 EQ 7,029.00 7,049.90 6,857.70 7,002.35 6,874.80 6,892.60 6,971.27
14-Oct-20 EQ 7,040.00 7,075.00 6,927.45 7,032.90 6,990.00 7,002.35 6,984.67
13-Oct-20 EQ 7,135.00 7,185.00 7,022.00 7,136.65 7,028.00 7,032.90 7,099.92
12-Oct-20 EQ 7,110.00 7,155.00 7,005.00 7,062.40 7,135.00 7,136.65 7,092.96
9-Oct-20 EQ 7,060.00 7,159.00 7,001.00 7,079.85 7,059.50 7,062.40 7,082.16
8-Oct-20 EQ 7,090.00 7,140.00 7,021.00 7,046.90 7,068.15 7,079.85 7,074.26
7-Oct-20 EQ 6,920.00 7,070.00 6,865.55 6,892.40 7,052.10 7,046.90 6,989.94
6-Oct-20 EQ 6,858.00 6,939.80 6,830.00 6,818.85 6,891.00 6,892.40 6,893.38
5-Oct-20 EQ 6,865.00 6,877.60 6,745.00 6,796.30 6,835.00 6,818.85 6,814.17
1-Oct-20 EQ 6,838.20 6,909.00 6,775.40 6,743.45 6,795.00 6,796.30 6,842.01
30-Sep-20 EQ 6,710.00 6,779.95 6,671.00 6,742.75 6,733.00 6,743.45 6,728.28
29-Sep-20 EQ 6,749.00 6,813.30 6,671.00 6,703.00 6,739.00 6,742.75 6,745.04
28-Sep-20 EQ 6,579.00 6,720.00 6,542.30 6,497.70 6,711.90 6,703.00 6,670.16
25-Sep-20 EQ 6,395.00 6,518.55 6,331.00 6,297.70 6,488.00 6,497.70 6,433.34
24-Sep-20 EQ 6,435.00 6,486.80 6,270.15 6,501.30 6,301.55 6,297.70 6,322.38
23-Sep-20 EQ 6,462.00 6,549.95 6,380.00 6,440.55 6,489.00 6,501.30 6,481.09
22-Sep-20 EQ 6,675.00 6,685.95 6,312.35 6,626.95 6,415.55 6,440.55 6,455.87
21-Sep-20 EQ 6,964.75 6,986.90 6,590.00 6,964.75 6,631.50 6,626.95 6,762.10
18-Sep-20 EQ 7,148.00 7,149.00 6,931.60 7,085.85 6,956.75 6,964.75 7,018.94
17-Sep-20 EQ 7,049.50 7,112.90 6,941.00 7,057.95 7,110.00 7,085.85 7,007.85
16-Sep-20 EQ 7,074.00 7,169.00 7,041.00 7,052.80 7,055.00 7,057.95 7,092.58
15-Sep-20 EQ 7,164.00 7,175.00 7,005.00 7,128.85 7,050.00 7,052.80 7,071.67
14-Sep-20 EQ 7,219.00 7,239.60 7,085.00 7,193.60 7,110.05 7,128.85 7,152.02
11-Sep-20 EQ 7,279.95 7,349.90 7,175.00 7,231.65 7,181.20 7,193.60 7,248.64
10-Sep-20 EQ 7,264.00 7,299.40 7,168.00 7,215.25 7,219.20 7,231.65 7,232.95
9-Sep-20 EQ 7,200.00 7,256.35 7,121.20 7,224.00 7,227.00 7,215.25 7,184.74
8-Sep-20 EQ 7,220.00 7,278.00 7,137.65 7,209.15 7,220.00 7,224.00 7,224.01
7-Sep-20 EQ 7,225.00 7,300.00 7,129.25 7,190.10 7,222.25 7,209.15 7,211.66
4-Sep-20 EQ 6,985.00 7,324.00 6,965.05 7,072.60 7,210.00 7,190.10 7,222.25
3-Sep-20 EQ 6,925.00 7,116.90 6,920.75 6,920.75 7,075.05 7,072.60 7,049.13
2-Sep-20 EQ 6,905.50 6,980.00 6,852.40 6,905.65 6,931.05 6,920.75 6,913.90
1-Sep-20 EQ 6,860.45 7,018.70 6,802.00 6,839.95 6,912.00 6,905.65 6,929.84
31-Aug-20 EQ 7,138.00 7,160.00 6,790.45 7,104.10 6,815.45 6,839.95 6,927.38
28-Aug-20 EQ 7,125.00 7,156.00 7,028.45 7,098.00 7,106.60 7,104.10 7,101.60
27-Aug-20 EQ 7,043.00 7,127.70 6,960.80 7,008.65 7,114.50 7,098.00 7,025.05
26-Aug-20 EQ 7,110.00 7,158.00 6,972.00 7,109.95 7,017.05 7,008.65 7,059.20
25-Aug-20 EQ 7,100.00 7,175.70 7,075.65 7,082.50 7,111.00 7,109.95 7,130.69
24-Aug-20 EQ 6,985.00 7,100.00 6,955.00 6,973.00 7,091.45 7,082.50 7,038.05
21-Aug-20 EQ 7,048.00 7,065.00 6,951.00 6,974.70 6,980.00 6,973.00 6,997.52
20-Aug-20 EQ 6,891.10 6,999.00 6,880.05 6,990.30 6,964.00 6,974.70 6,961.60
52W H 52W L VOLUME VALUE No of trades
7,758.70 4,001.10 1434853 ### 135003
7,758.70 4,001.10 1645177 ### 179960
7,758.70 4,001.10 1461819 ### 167498
7,758.70 4,001.10 1559361 ### 133834
7,758.70 4,001.10 1758999 ### 130909
7,758.70 4,001.10 584542 ### 51489
7,758.70 4,001.10 911969 ### 83787
7,758.70 4,001.10 659864 ### 63746
7,758.70 4,001.10 548472 ### 44043
7,758.70 4,001.10 657914 ### 49182
7,758.70 4,001.10 681321 ### 54699
7,758.70 4,001.10 779634 ### 53493
7,758.70 4,001.10 819418 ### 65990
7,758.70 4,001.10 799713 ### 63216
7,758.70 4,001.10 839682 ### 64951
7,758.70 4,001.10 851205 ### 72570
7,758.70 4,001.10 1101957 ### 97040
7,758.70 4,001.10 756215 ### 64506
7,758.70 4,001.10 833481 ### 67471
7,758.70 4,001.10 1256003 ### 97656
7,758.70 4,001.10 812841 ### 77755
7,758.70 4,001.10 1199391 ### 93606
7,758.70 4,001.10 1099630 ### 100545
7,758.70 4,001.10 1316469 ### 110741
7,758.70 4,001.10 1237679 ### 115569
7,758.70 4,001.10 1456257 ### 129964
7,758.70 4,001.10 2666025 ### 229779
7,758.70 4,001.10 1290483 ### 119484
7,758.70 4,001.10 1143560 ### 89872
7,758.70 4,001.10 1133421 ### 101117
7,758.70 4,001.10 920587 ### 70542
7,758.70 4,001.10 894418 ### 62872
7,758.70 4,001.10 1003493 ### 77457
7,758.70 4,001.10 1383019 ### 105158
7,758.70 4,001.10 978701 ### 71947
7,758.70 4,001.10 1273303 ### 102091
7,758.70 4,001.10 1145075 ### 87288
7,758.70 4,001.10 1348919 ### 108181
7,758.70 4,001.10 2185296 ### 160897
7,758.70 4,001.10 947751 ### 94430
7,758.70 4,001.10 776393 ### 66495
7,758.70 4,001.10 1117127 ### 93743
7,758.70 4,001.10 1580778 ### 130089
7,758.70 4,001.10 1019984 ### 88135
7,758.70 4,001.10 1158982 ### 86504
7,758.70 4,001.10 992395 ### 91608
7,758.70 4,001.10 1047628 ### 81427
7,758.70 4,001.10 961178 ### 78921
7,758.70 4,001.10 971836 ### 76543
7,758.70 4,001.10 958233 ### 64977
DATE EXPIRY DATOPTION TYSTRIKE PRIOPEN PRICE
HIGH PRICELOW PRICECLOSE PRICLAST PRICESETTLE PRICE
29-Oct-20 29-Oct-20 XX - 7,110.00 7,187.65 6,986.65 7,121.35 7,098.90 7,117.60
28-Oct-20 29-Oct-20 XX - 7,185.00 7,335.75 7,106.55 7,173.75 7,173.00 7,173.75
27-Oct-20 29-Oct-20 XX - 7,071.00 7,211.00 7,052.00 7,160.95 7,148.60 7,160.95
26-Oct-20 29-Oct-20 XX - 7,109.00 7,164.95 6,936.40 7,052.90 7,055.00 7,052.90
23-Oct-20 29-Oct-20 XX - 6,867.45 7,124.40 6,840.85 7,107.45 7,109.00 7,107.45
22-Oct-20 29-Oct-20 XX - 6,862.70 6,874.85 6,796.60 6,832.55 6,839.55 6,832.55
21-Oct-20 29-Oct-20 XX - 6,919.95 6,961.00 6,785.10 6,883.25 6,883.80 6,883.25
20-Oct-20 29-Oct-20 XX - 6,823.75 6,969.35 6,823.75 6,867.80 6,862.05 6,867.80
19-Oct-20 29-Oct-20 XX - 6,970.00 7,007.10 6,840.25 6,876.45 6,874.30 6,876.45
16-Oct-20 29-Oct-20 XX - 6,920.00 6,997.95 6,872.50 6,920.15 6,930.00 6,920.15
15-Oct-20 29-Oct-20 XX - 7,039.30 7,074.15 6,881.20 6,912.90 6,890.40 6,912.90
14-Oct-20 29-Oct-20 XX - 7,062.95 7,093.25 6,955.80 7,028.70 7,018.00 7,028.70
13-Oct-20 29-Oct-20 XX - 7,153.65 7,218.35 7,055.55 7,063.95 7,056.00 7,063.95
12-Oct-20 29-Oct-20 XX - 7,140.00 7,160.40 7,026.00 7,148.40 7,150.00 7,148.40
9-Oct-20 29-Oct-20 XX - 7,085.05 7,180.95 7,026.20 7,097.90 7,093.25 7,097.90
8-Oct-20 29-Oct-20 XX - 7,116.00 7,157.15 7,036.70 7,099.60 7,094.65 7,099.60
7-Oct-20 29-Oct-20 XX - 6,924.40 7,084.70 6,892.45 7,070.40 7,070.55 7,070.40
6-Oct-20 29-Oct-20 XX - 6,889.30 6,967.80 6,855.20 6,917.90 6,914.05 6,917.90
5-Oct-20 29-Oct-20 XX - 6,880.65 6,898.90 6,764.10 6,857.80 6,865.45 6,857.80
1-Oct-20 29-Oct-20 XX - 6,831.05 6,943.65 6,796.05 6,820.10 6,815.05 6,820.10
30-Sep-20 29-Oct-20 XX - 6,742.10 6,809.00 6,706.00 6,779.60 6,776.15 6,779.60
29-Sep-20 29-Oct-20 XX - 6,748.00 6,830.80 6,690.80 6,774.35 6,770.95 6,774.35
28-Sep-20 29-Oct-20 XX - 6,499.00 6,758.05 6,496.00 6,741.15 6,737.40 6,741.15
25-Sep-20 29-Oct-20 XX - 6,402.10 6,542.00 6,357.75 6,516.35 6,511.00 6,516.35
24-Sep-20 29-Oct-20 XX - 6,469.90 6,516.85 6,302.35 6,330.75 6,326.15 6,330.75
23-Sep-20 29-Oct-20 XX - 6,513.45 6,584.30 6,419.85 6,538.60 6,534.15 6,538.60
22-Sep-20 29-Oct-20 XX - 6,683.25 6,694.05 6,352.50 6,481.15 6,469.95 6,481.15
21-Sep-20 29-Oct-20 XX - 7,005.00 7,019.35 6,632.00 6,669.35 6,674.35 6,669.35
18-Sep-20 29-Oct-20 XX - 7,268.95 7,268.95 6,980.00 7,006.10 6,994.90 7,006.10
17-Sep-20 29-Oct-20 XX - 7,063.10 7,155.00 6,980.00 7,133.65 7,154.85 7,133.65
16-Sep-20 29-Oct-20 XX - 7,096.35 7,215.85 7,092.60 7,110.00 7,109.50 7,110.00
15-Sep-20 29-Oct-20 XX - 7,172.80 7,206.65 7,056.55 7,101.85 7,102.80 7,101.85
14-Sep-20 29-Oct-20 XX - 7,267.80 7,267.85 7,140.80 7,176.30 7,160.65 7,176.30
11-Sep-20 29-Oct-20 XX - 7,314.55 7,389.00 7,233.15 7,245.30 7,233.15 7,245.30
10-Sep-20 29-Oct-20 XX - 7,287.40 7,331.00 7,220.00 7,287.35 7,280.00 7,287.35
9-Sep-20 29-Oct-20 XX - 7,198.55 7,299.50 7,178.55 7,269.00 7,284.30 7,269.00
8-Sep-20 29-Oct-20 XX - 7,233.60 7,311.90 7,192.00 7,253.30 7,246.75 7,253.30
7-Sep-20 29-Oct-20 XX - 7,260.00 7,340.10 7,190.00 7,259.35 7,269.80 7,259.35
4-Sep-20 29-Oct-20 XX - 7,036.05 7,375.00 7,022.85 7,249.15 7,270.25 7,249.15
3-Sep-20 29-Oct-20 XX - 7,000.50 7,165.00 6,983.55 7,122.40 7,114.50 7,122.40
2-Sep-20 29-Oct-20 XX - 6,957.35 7,013.20 6,900.00 6,983.80 6,984.70 6,983.80
1-Sep-20 29-Oct-20 XX - 6,866.25 7,051.00 6,858.80 6,964.55 6,971.20 6,964.55
31-Aug-20 29-Oct-20 XX - 7,175.50 7,175.55 6,855.00 6,885.25 6,870.75 6,885.25
28-Aug-20 29-Oct-20 XX - 7,155.00 7,201.50 7,062.00 7,138.70 7,134.65 7,138.70
27-Aug-20 29-Oct-20 XX - 7,049.95 7,158.00 7,014.00 7,153.50 7,153.00 7,153.50
26-Aug-20 29-Oct-20 XX - 7,127.90 7,127.90 7,042.00 7,057.20 7,076.80 7,057.20
25-Aug-20 29-Oct-20 XX - 7,125.90 7,175.50 7,099.00 7,119.95 7,119.90 7,119.95
24-Aug-20 29-Oct-20 XX - 7,025.00 7,110.00 7,025.00 7,105.05 7,100.00 7,105.05
21-Aug-20 29-Oct-20 XX - 7,045.00 7,060.35 6,990.00 7,009.00 7,009.00 7,009.00
20-Aug-20 29-Oct-20 XX - 6,969.85 7,048.95 6,951.15 7,009.80 7,009.80 7,031.95
Volume VALUE PREMIUM OV PEN INTECHANGE IN OI
879700 ### ### 111400 -248900
1554600 ### ### 360300 -493300
1821900 ### ### 853600 -731700
2021700 ### ### 1585300 -649600
1869400 ### ### 2234900 -86600
583300 ### ### 2321500 -13800
994400 ### ### 2335300 -39300
640300 ### ### 2374600 5300
602400 ### ### 2369300 -10800
596700 ### ### 2380100 -3000
781800 ### ### 2383100 1100
890900 ### ### 2382000 28300
849800 ### ### 2353700 1500
723600 ### ### 2352200 -12600
951200 ### ### 2364800 70800
804500 ### ### 2294000 -9000
1006600 ### ### 2303000 -36000
712500 ### ### 2339000 -6300
831200 ### ### 2345300 3600
1530800 ### ### 2341700 -8000
911300 ### ### 2349700 27000
1257600 ### ### 2322700 53900
1123100 ### ### 2268800 9500
1444100 ### ### 2259300 24600
1327400 ### ### 2234700 381200
1186300 ### ### 1853500 466500
1499000 ### ### 1387000 423800
986700 ### ### 963200 606700
348800 ### ### 356500 187100
148200 ### ### 169400 40000
110300 ### ### 129400 45300
43100 ### ### 84100 18000
65500 ### ### 66100 23300
30100 ### ### 42800 300
22000 ### ### 42500 1700
27400 ### ### 40800 2000
26400 ### ### 38800 3500
26500 ### ### 35300 0
50600 ### ### 35300 3400
27000 ### ### 31900 6500
18300 ### ### 25400 4900
25700 ### ### 20500 -2100
28400 ### ### 22600 4600
7000 ### ### 18000 2000
8200 ### ### 16000 2600
5600 ### ### 13400 1900
4100 ### ### 11500 900
4100 ### ### 10600 1500
4000 ### ### 9100 1200
1100 ### ### 7900 500