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On 1 April 2021 Joyce acquired two contracts in SP1200 futures in which she took a buy position. Contract unit is the value of the

On 1 April 2021 Joyce acquired two contracts in SP1200 futures in which she took a buy position. Contract unit is the value of the SP1200 index, multiplied by $25. The SP1200 index was 5500 on 1 April 2021. On 15 June 2021 she decided to close out her futures contracts, when the SP1200 index was 5050. What is the amount of gain or loss on the futures contracts? OA. $11,250 loss . $11,250 gain OC. $22,500 gain OD $22,500 loss

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