Suppose You Sold Three September Cocoa Futures Contracts at a Price

question 3

Multiple Choice

Suppose you sold three September cocoa futures contracts at a price quote of 1,696. Cocoa futures contracts are based on 10 metric tons and priced in dollars per ton. What will be your profit or loss on this contract if the price turns out to be $1,707 per metric ton at expiration?

• A) $330
• B) −$330
• C) $110
• D) −$110
• E) $150

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