A trader enters into a short corn futures contract when the futures price is $1.70 per pound. The contract is for the delivery of the 50,000 pounds. How much does the trader gain or lose if the corn price at the end of the contract is $1.55 per pound? Gain of $7500 Gain of $1500 Loss of 1500 Loss of $7500 A trader enters into a short corn futures contract when the futures price is $1.70 per pound. The contract is for the delivery of the 50,000 pounds. How much does the trader gain or lose if the corn price at the end of the contract is $1.55 per pound? Gain of 57500 Gain of $1500 Loss of $1500 Loss of $7500