Question
On 1 April 2021 Joyce acquired two contracts in SPI200 futures in which she took a buy position. Contract unit is the value of the
On 1 April 2021 Joyce acquired two contracts in SPI200 futures in which she took a buy position. Contract unit is the value of the SPI200 index, multiplied by $25. The SPI200 index was 5500 on 1 April 2021. On 15 June 2021 she decided to close out her futures contracts, when the SPI200 index was 5050. What is the amount of gain or loss on the futures contracts?
| A. | $11,250 gain | |
| B. | $22,500 gain | |
| C. | $22,500 loss | |
| D. | $11,250 loss |
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ISE Investments
Authors: Zvi Bodie, Alex Kane, Alan Marcus
12th International Edition
1260571157, 978-1260571158
