A portfolio manager currently takes a short position in 50 NASDAQ-100 E-mini futures contracts at the futures price of 2,400.75 per contract. The NASDAQ-100 E-mini futures contract multiplier is 20. A month later, the investor closes out the position at the futures price of 2,425.75 without ever depositing or withdrawing any margin during the month.

The gain or loss resulting from the trade is closest to:

A

$1,250.

B

$1,250.

C

$25,000.

D

$25,000.