1. You are day-trading the S&P E-Mini contract with $5,250.00 of equity in your account. Contract specs are as follows:

CONTRACT UNIT	QUOTE UNITS	TIC SIZE	CONTRACT MOS.	INITIAL MARGIN	MAINT MARGIN
$50 x S&P 500 INDEX	US$ AND CENTS/TIC	0.25 INDEX PTS = $12.50	Mar, Jun, Sep, Dec	$907.50/ CONTRACT (DAY-TRADE)	$825/ CONTRACT (DAY-TRADE)

Based on your new sophisticated algorithm, there is an 85% chance that the S & P will fall over the next half hour, so you go all in by selling 6 June contracts. The market rises 5 tics, and then plunges 50 tics when you flatten your position (buy to close them all). What was your gross profit or loss for the day?