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 four March S&P Midcap 400 contracts at the lifetime low, and closed your position at the open price of the day. What was your dollar return?
A) $57,100
B) $56,200
C) $56,900
D) $57,350
E) $57,800

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 four March S&P Midcap 400 contracts at the lifetime low, and closed your position at the open price of the day. What was your dollar return?
A) $57,100
B) $56,200
C) $56,900
D) $57,350
E) $57,800

Quizplus · Accepted Answer

First, we need to determine the profit or loss per contract:

Profit/Loss per contract = (Open price - Lifetime low) * $500 per index
Profit/Loss per contract = (502.25 - 474.15) * $500 = $14,050

Since we purchased four contracts, our overall profit would be:

Overall profit = Profit/Loss per contract * Number of contracts
Overall profit = $14,050 * 4 = $56,200

Therefore, the correct answer is B, $56,200.

S&P 400 Midcap (CME) - $500 * Index -You Purchased Four March S&P Midcap 400 Contracts at the