S&P 400 Midcap (CME) - $500 * Index

$\begin{array}{lcccccccc}
& & & & & &{\text { Lifetime }} && \text { Open } \
& \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { Chg } & \text { High } & \text { Low } & \text { Int } \
\text { Mar } & 502.25 & 506.30 & 497.25 & 505.75 & +2.50 & 532.50 & 474.15 & 1,432 \
\text { Apr } & 501.25 & 508.75 & 496.75 & 504.30 & -1.25 & 540.35 & 478.30 & 867
\end{array}$
-You purchased eight March S&P Midcap futures at a price of 482.15 and sold them at the low price of the day. What was your dollar return?
A) $60,400
B) $59,860
C) $62,560
D) $61,440
E) $61,840

Question

S&P 400 Midcap (CME) - $500 * Index

$\begin{array}{lcccccccc} 
& & & & & &{\text { Lifetime }} && \text { Open } \
& \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { Chg } & \text { High } & \text { Low } & \text { Int } \
\text { Mar } & 502.25 & 506.30 & 497.25 & 505.75 & +2.50 & 532.50 & 474.15 & 1,432 \
\text { Apr } & 501.25 & 508.75 & 496.75 & 504.30 & -1.25 & 540.35 & 478.30 & 867
\end{array}$
-You purchased eight March S&P Midcap futures at a price of 482.15 and sold them at the low price of the day. What was your dollar return?
A) $60,400
B) $59,860
C) $62,560
D) $61,440
E) $61,840

Quizplus · Accepted Answer

To calculate the dollar return, we need to use the following formula:

Dollar return = (Sell price - Buy price) x Contract size x Number of contracts

Sell price is given as the low price of the day, which is 497.25. Buy price is given as 482.15. Contract size is $500 per index, and the number of contracts is 8.

Dollar return = (497.25 - 482.15) x $500 x 8 
Dollar return = $15.10 x $500 x 8 
Dollar return = $60,400

Therefore, the answer is A) $60,400, which is the only option that matches the calculated dollar return.

S&P 400 Midcap (CME) - $500 * Index -You Purchased Eight March S&P Midcap Futures at a Price