On January 1, you sold one April S&P 500 Index futures contract at a futures price of 1,660. If the April futures price is 1,650 on February 1, your profit would be if you close your position. (The contract multiplier is 250.) Multiple Choice −$5,000 −$2,500 $5,000 $2,500

$2,500

Explanation:

The computation of profit is shown below:-

Profit = (Contract at a future price - April Future price) - Contract multiplier

= ($1,660 - $1,650) × $250

= $10 × $250

= $2,500

Therefore for computing the profit we simply applied the above formula i.e substract the April future price from the contract future price and then multiply it with the contract supplier so that the correct value could come

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