5) A trader purchases 4 futures contracts (buy position) with a total value of the price of

the contract multiplied by $100 when the price of the contracts (based on the SPI 200

share price index) is 3026. When these contracts expire, the index itself is at 2950 points

and the price of the SPI 200 contract units is 2975. The trader has:

A) made a gain of $5100

B) made a loss of $5100

C) made a loss of $2550

D) made a gain of $2550