A speculator sells one 10-year T-note futures contract for $100,000 of face value of T- notes at 98'14. Three month later, the contract expires at 101'10.5. How much did the speculator gain (lose) ?
A) $2,965
B) ($2,965)
C) $2,891
D) ($2,891)
E) $328
Correct Answer:
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