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1. You took a short position in 20 September CPO Futures contracts. Each contract is to deliver 25 metric tons of crude palm oil. As

1. You took a short position in 20 September CPO Futures contracts. Each contract is to deliver 25 metric tons of crude palm oil. As you entered the CPO Futures today the September CPO futures is trading at RM 2,200 per metric tone. You posted an initial margin of RM45,000 and the maintenance margin is RM33,000. On the 7th trading day the CPO price had increased to RM 2,230 per metric tone which led to a margin call of RM15,000. On the 23rd trading day the September CPO Futures were trading at RM 2,180 per metric ton and you decided to close out your position. The one round total brokerage fee is RM620. Calculate your profit or loss in this September CPO Futures trading? A. RM 25,000 gain B. RM 25,620 (loss) C. RM 25,620 gain D. RM 5, 620 (loss)

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