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Suppose that in September 2021 a company takes a long position in a contract on May 2022 crude oil futures. It closes out its position
Suppose that in September 2021 a company takes a long position in a contract on May 2022 crude oil futures. It closes out its position in March 2022. The futures price (per barrel) is $48.30 when it enters into the contract, $50.50 when it closes out its position. One contract is for the delivery of 1,000 barrels. Enter only numeric values. What is the company's total profit? What if the company holds a short position in the same contract? What is the total profit
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