1. The futures price of a metal is $250 an ounce. Futures contracts are for 100 ounces. You expect the price to rise and enters into a 3 month contract to buy the metal. After a month the futures price increases to $263. What is the profit/loss on your position at that point?

2.You sold a Call Option with Strike $35 for $3. You also bought the stock for $29. If the stock is now valued at $31, what is your profit/loss?