You Purchased Two May Futures Contracts on Silver When the Price

question 39

Multiple Choice

You purchased two May futures contracts on silver when the price quote was 10.420.Given today's closing prices as shown in the table,your total profit or loss to date is:
Silver - 5,000 troy oz.: Dollars and cents per troy oz. $$\begin{array} { | r | r | r | r | r | r | } \hline & \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { Chg } \\\hline \text { Mar } & 10.190 & 10.250 & 9.600 & 10.387 & - 0.484 \\\hline \text { May } & 9.655 & 9.740 & 9.655 & 9.720 & - 0.500 \\\hline\end{array}$$

• A)-$7,000
• B)-$3,500
• C)-$700
• D)-$350
• E)$70

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