You purchased five September wheat futures contracts at the open today and sold those contracts at the close.What is your total profit or loss on these contracts?

A) -$750,000
B) -$75,000
C) -$7,500
D) -$750
E) -$75

Name: You purchased five September wheat futures contracts at the open today and sold those contracts at the close.What is your total profit or loss on these contracts? A) -$750,000 B) -$75,000 C) -$7,500 D) -$750 E) -$75
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Question

You purchased five September wheat futures contracts at the open today and sold those contracts at the close.What is your total profit or loss on these contracts?

A) -$750,000 
B) -$75,000 
C) -$7,500 
D) -$750 
E) -$75

Quizplus · Accepted Answer

Total profit = 5 × 5,000 × ($8.11 - $8.14) = -$750

You Purchased Five September Wheat Futures Contracts at the Open