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Suppose trader A sells a E-mini S&P 500 index December 2021 expiry (ESZ1) futures contract to trader B on May 7, 2021. Suppose the price

Suppose trader A sells a E-mini S&P 500 index December 2021 expiry (ESZ1) futures contract to trader B on May 7, 2021. Suppose the price declines and trader A liquidates their position by buying a futures contract five days later on May 12, 2021. Does trader A make a profit? Does trader B have to make a loss? Explain your answer.

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