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6. If, for a $1000 premium, you buy a $100,000 call option on bond futures with a strike price of 114, and at the expiration

6. If, for a $1000 premium, you buy a $100,000 call option on bond futures with a strike price of 114, and at the expiration date the price is 110 (a) your profit is $4000. (b) your loss is $4000. (c) your profit is $3000. (d) your loss is $3000. (e) your loss is $1000.
why the answer is e

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