S&P 400 Midcap (CME) - $500 * Index -You Purchased Four March S&P Midcap 400 Contracts at the

question 67

Multiple Choice

S&P 400 Midcap (CME) - $500 * Index

$\begin{array}{lcccccccc} & & & & & &{\text { Lifetime }} && \text { Open } \\& \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { Chg } & \text { High } & \text { Low } & \text { Int } \\\text { Mar } & 502.25 & 506.30 & 497.25 & 505.75 & +2.50 & 532.50 & 474.15 & 1,432 \\\text { Apr } & 501.25 & 508.75 & 496.75 & 504.30 & -1.25 & 540.35 & 478.30 & 867\end{array}$
-You purchased four March S&P Midcap 400 contracts at the lifetime low, and closed your position at the open price of the day. What was your dollar return?

• A) $57,100
• B) $56,200
• C) $56,900
• D) $57,350
• E) $57,800

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Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Price

is the amount of money expected, required, or given in payment for something, reflecting the value that must be exchanged to obtain a good or service.

Quantity Demanded

The cumulative quantity of a product or service that buyers are ready and capable of buying at a certain price within a given timeframe.

Surplus

The situation where the quantity of a good or service supplied exceeds the quantity demanded, often resulting in a decrease in price.