If you sold S&P 500 Index futures contract at a price of 950 and closed your position when the index futures was 947, you incurred:
A)a loss of $1,500.
B)a gain of $1,500.
C)a loss of $750.
D)a gain of $750.
E)None of the options

Name: If you sold S&P 500 Index futures contract at a price of 950 and closed your position when the index futures was 947, you incurred: A)a loss of $1,500. B)a gain of $1,500. C)a loss of $750. D)a gain of $750. E)None of the options
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Question

Quizplus · Accepted Answer

($950 - $947) = $3 × 250 = $750.

If You Sold S&P 500 Index Futures Contract at a Price