On 6 January 2002,the All Ordinaries Index Closed at 3435

question 58

Multiple Choice

On 6 January 2002,the All Ordinaries Index closed at 3435 points and the June 2002 SPI 200 futures was priced at 3457 points.A speculator believes that share prices are likely to fall and so decides to sell June 2002 SPI 200 futures.One week later,when the All Ordinaries Index falls to 3417 points and the June 2002 SPI 200 futures falls to 3436 points,the speculator decides to reverse her position.How much profit/loss does the speculator make?

• A)$450 gain.
• B)$475 gain.
• C)$525 gain.
• D)$525 loss.

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