On SEP 3 2018 the JUL 2019 WTI futures is traded on NYMEX for $75/barrel and the SEP WTI futures on NYMEX is traded for $77/barrel. A speculator decides to open a Calendar spread. The speculator expects the Spread to widen relative to the current spread so she wishes to buy the current spread.

What futures positions are opened by the speculator on SEP 3?

On JUN 2 2019 the JUL 2019 WTI futures on NYMEX is traded for $80/barrel and the SEP 2019 WTI futures on NYMEX is traded for $85/barrel. What positions must the speculator take in order to exit the market?

Calculate the speculators per barrel profit/loss.