Consider the situation of the copper futures trader discussed in problem $2$ above. If the trader were working for a company that was using the contract for a hedge, in which year or years would taxes be due?

a$.2022$

b$.2023$

c$.2024$

d$.$ All of the above.

On a particular day, there were $2,000$ trades in a particular futures contract. This means that there were $2,000$ buyers $($going long$)$ and $2,000$ sellers $($going short$).$ Of the $2,000$ buyers, $1-400$ were closing out positions and $600$ were entering into new positions. Of the $2,000$ sellers, $1,200$ were closing out positions and $800$ were entering into new positions.

By what number of contracts does the open interest change based on the day's trading? $($hint: "sell to open" vs$.$ "sell to close"$)$

Enter your answer in number of contracts with a positive number for an increase and a negative number for a decrease. For example if open interest increased by $500$ contracts enter $"500",$ but if it decreased by $300$ contacts enter $"-300".$

Answer: