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What is the size of a difference check on a 1-Year short forward GBP contract given that the size of the contract is GBP 280,000;

What is the size of a difference check on a 1-Year short forward GBP contract given that the size of the contract is GBP 280,000; the one-year forward rate is F1USD/GBP = 1.56; and X1USD/GBP = 1.50?

A. Profit of USD 16,800

B. Loss of USD 16,800

C. Profit of USD 11,200

D. Loss of USD 11,200

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