Suppose You Sell Nine September Silver Futures Contracts at the Last

question 18

Multiple Choice

Suppose you sell nine September silver futures contracts at the last price of the day as shown in the table below. What will be your profit or loss on this contract if the price turns out to be $12.09 per ounce at expiration?
Futures:
Silver - 5,000 troy oz, U.S. cents per troy oz.

• A)loss of $27,225
• B)loss of $7,050
• C)loss of $3,025
• D)profit of $3,025
• E)profit of $27,225

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Definitions:

Alkyl Halides

Organic compounds containing a halogen atom bonded to an aliphatic carbon chain.

Lowest Boiling Point

The temperature at which a substance transitions from a liquid to a gas state, being the lowest among a group of substances.

T-butyl Chloride

A compound consisting of a tertiary butyl group attached to a chlorine atom, used in organic synthesis, particularly in nucleophilic substitution reactions.

N-butyl Iodide

An organic compound with the chemical formula CH3(CH2)3I, used in organic synthesis.