On January 1, you sold one April S&P 500 Index futures contract at a futures price of 1,420. If, on February 1, the April futures price was 1,430, what would be your profit (loss) if you closed your position (without considering transactions costs)?
A. $2,500 loss
B. $10 loss
C. $2,500 profit
D. $10 profit
A. $2,500 loss
$1,420 ? $1,430 = ?$10 × 250 = ?$2,500.
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