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