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33 You are short 10 gold futures contracts, established at an initial settle price of $1,610 per ounce, where each contract represents 100 ounces. Over
33
You are short 10 gold futures contracts, established at an initial settle price of $1,610 per ounce, where each contract represents 100 ounces. Over the subsequent four trading days, gold settles at $1,617, $1,607, $1,616, and $1,625, respectively. What is the profit or loss (or cash flows for the margin account) for each day?
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-$7,000; $10,000; -$9,000; -$9,000
$7,000; -$10,000; $9,000; $9,000
-$7,000; $3,000; -$6,000; -$15,000
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