Part II: Intramarket (Interdelivery) Spread (10 Points) On October 12th a speculator opens an intramarket Bull Spread using December '11 and February ' 12 contracts for Crude Oil, Light-Sweet (NYMEX). The position is offset on October 28th. They trade three (3) contracts of each commodity. Note that the contract size is 1,000 barrels. - On 10/12 the price of the nearby is $82.25/ barrel, and the price of the deferred is $83.75/ barrel - On 10/28 the price of the nearby is $77.25/ barrel, and the price of the deferred is $78.50 /barrel Write down the T-account for the transactions, indicating the variation in the spread. Calculate the speculator's profits/losses. (10 points)