Four days ago you entered into a futures contract to sell 125,000 at $1.52 per euro. The spot exchange rate when you entered the contract was $1.48. Your initial performance bond was $5,500 and your maintenance level was $2,200. Over the past four days (in order) the contract has settled at $1.51, $1.48, $1.54, and $1.56. How much in total have you made or lost?

Question 32 options:

	lost $10,000
	lost $12,500
	made $12,500
	made $5,000
	lost $5,000
	made $10,000