Question
Selina opens a short position in 6 August soybean oil futures contract at $0.384 per pound. She leaves her position open through the end of
Selina opens a short position in 6 August soybean oil futures contract at $0.384 per pound. She leaves her position open through the end of the day. The settlement price is $0.375 per pound. What is her gain or loss for the day on her position? The size of the soybean oil futures contract is 60,000 lb. (Heads up: I am NOT asking for gain or loss per bushel. Calculate gain or loss for the entire position.) Enter your answer in dollars, rounded to the nearest dollar. Do not type dollar signs or commas. If a loss, type a minus sign in front of the number.
For example, type a loss of $1,234.56 as -1235
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