You Purchased Four August 09 Futures Contracts on Soybeans at a Price

question 78

Multiple Choice

You purchased four August 09 futures contracts on soybeans at a price quote of 1156'6. Each contract is for 5,000 bushels with the price quoted in cents and 1/8 ths of a cent per bushel. Assume the contract price is 116'4 when you close out your contract six weeks from now. What will be your total profit or loss on this investment?

• A) $950
• B) -$238
• C) $6,480
• D) $16,200
• E) $24,000

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