Question 1:

A trader sold short a cotton futures contract @ 56.53 cents per pound. Contract size is 50,000 pounds. How much does the trader gain or lose in DOLLARS if he closed out his contract when futures price is 50.43 cents per pound. Keep zero decimal points. If it is a loss, please enter a negative number.

Question 2:

A trader entered into a long S&P index futures contract when the futures price is 2,829 and closed it out when the futures price is 3,122. What is his gain or loss in dollars? The contract multiplier is $250. Write your answer in the format as 10000 or -10000, no dollar sign, no comma.