Problem 23-02 Futures Quotes [LO2]

Suppose you sell eight March 2017 silver futures contracts on this day, at the last price of the day. Use Table 23.1

a.	What will your profit or loss be if silver prices turn out to be $17.85 per ounce at expiration? (Do not round intermediate calculations. Enter your answer as a positive value rounded to the nearest whole number, e.g., 32.)
b.	What will your profit or loss be if silver prices are $17.68 per ounce at expiration? (Do not round intermediate calculations. Enter your answer as a positive value rounded to the nearest whole number, e.g., 32.)

42 2.80 2.80 59,479 Platinum (NYM)-50 troy oz; $ per troy oz Feb 978.80 979.10 978.80 1019.20 April 1019.60 1032.10 1016.20 1022.20 Silver (CMX)-5,000 troy oz.; $ per troy oz. Feb 17.750 17.815 17.750 17.720 March 17.780 17.845 17.615 17.741 Crude Oil, Light Sweet (NYM)-1,000 bbls; $ per bbl. March 52.37 53.21 52.37 53.00 April 52.98 53.70 52.95 53.46 May 53.42 54.10 53.41 0.037 0.036 179 113,427 0.66 0.55 385,634 280,780 53.88 0.51 192,554