U buy a CDS with MV 0 maturing and spread duration of 3.5 principal of 10,000,000

U sell another CDS with MV 0 and spread duration of 4.5 principal 25,000,000

Assume ur spread goes up by 20 bps

what is going the approximate portfolio MV change?

Hint calc each of the MV seperately and then add them together

Answers:

-155,000

295000

-225,000

NONE OF THE ABOVE