You purchased four September corn futures contracts at what turned out to be the lowest price of the day and sold those contracts at today's close.What is your total profit or loss on this investment?

A) -$287.50
B) -$1,100
C) -$2,875
D) $1,100
E) $14,250

Question

You purchased four September corn futures contracts at what turned out to be the lowest price of the day and sold those contracts at today's close.What is your total profit or loss on this investment?

A) -$287.50 
B) -$1,100 
C) -$2,875 
D) $1,100 
E) $14,250

Quizplus · Accepted Answer

Total loss = 4 × 5,000 × ($6.135 - $6.08) = $1,100

You Purchased Four September Corn Futures Contracts at What Turned