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Assume that in January, Michelle implements a spreading strategy on E-Mini S&P 500 futures ($50 multiplier). She longs one March future (futures price of 3,167

Assume that in January, Michelle implements a spreading strategy on E-Mini S&P 500 futures ($50 multiplier). She longs one March future (futures price of 3,167 and simultaneously shorts one November future (futures price of 3,427). After one month, the March future is trading at 3,472, and the November future is trading at 3,518. What is her net profit or loss? Enter your answer in dollars, and enter a loss as a negative number.

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