You have a stock indexed portfolio worth $20 million today. The index's value today is 1,000. You enter a short position on 75 futures contracts, with the current futures price of 1,200. You close the position before delivery, when the index is 900 and the futures price for June 2015 delivery is 800.

Q: What is the net gain/loss on your entire portfolio? The multiplier for this index futures contract is 100.