Suppose you sell seven May 2020 silver futures contracts this day at the last price of the day.

a. What will your profit or loss be if silver prices turn out to be $17.65 per ounce at expiration? (Round to 2 decimal places)

b. What will your profit or loss be if silver prices are $17.35 per ounce at expiration?

Silver (CMX)5,000 troy oz.; $ per troy oz May 17.220 17.585 July 17.225 17.985 17.220 353 17.464 17.468 0.418 0.398 17.125 111,605