Henry recently bought a 6-month Euro futures contract for $1.4400 / only to see the dollar appreciate to a value of $1.4250 at which time he sold the euro futures.

If each euro futures contract is for an amount of 62,500, how much money did Jack gain or lose from his speculation with euro futures?

Select one:

a. $ 937.50 loss

b. 937.50 loss

c. 937.50 gain