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The value of an S&P 500 futures contract is $500 times the index. Assume the futures price on the S&P 500 index is 1612 at
The value of an S&P 500 futures contract is $500 times the index. Assume the futures price on the S&P 500 index is 1612 at the time of purchase. If the index price is $1619 when the position is closed out, the gain is
| a. | $700. |
| b. | $7,000. |
| c. | $3,190. |
| d. | $3,120. |
| e. | $3,500. |
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