9. A trader sells a corn futures market @ $6.00/bu then one day before expiration the trader buys the same contract @ $6.50. The trader: a. lost money on this trade b. made money on this trade c. need more information 10. On January 1st the May corn futures price for corn is $5.00 and a trader buys a contract. Two weeks later the trader sells a May corn futures price for $4.90. The trader's payoff ($/bu) is: a. $-0.10 b. $0.10 c. $4.90 d. $5.00 11. On July 1st two September live cattle futures contract are purchased @ $1.00 per lb, each contract is for 40,000 lbs. On August 1st both contracts are sold @ $1.05 per lb. Calculate total payoff: a. -$2000 b. -$4000 c. $4000 d.$2000