Delta of Futures

[Chip Douglas]

It looks like JAM and Hull disagree. Is the delta of a futures contract with income: e^-(r-q)T or e^(q-r)T?

All of the JAM stuff has the negative exponent, but Hull (p 348, I believe) does not. I feel like it should have the negative since the delta of a futures without the income is listed as e^-rT, but I have a really tough time figuring out the calculation differences between a future and forward in a situation like this.

[TiderInsider]

Check the JAM errata...I think that was mentioned.

Delta of a futures is e^(r-q)T

[yanz]

not to nitpick, but -(r-q) = q-r

[Chip Douglas]

Thanks Tider.

Thanks to you too Yanz...well played.