Four days ago you entered into a futures contract to sell 125,000 at $1.49 per euro. The spot exchange rate when you entered the contract was $1.51. Your initial performance bond was $6,200 and your maintenance level was $2,500. Over the past four days (in order) the contract has settled at $1.48, $1.50, $1.44, and $1.44. How much in total have you made or lost?

Options:

M

ade $6,250

lost $8,750

made $8,750

lost $7,500

made $7,500

lost $6,250