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Use the Following Soybean Futures Quotes to Answer This Question

Question 67

Multiple Choice

Use the following soybean futures quotes to answer this question.
Soybeans: 5,000 bushels, cents and 1/8ths of a cent per bushel
Exp Last  Net Chg  Open  High  Low  Settle 08 Sep 131403413402134061313413140 08 Nov 12852+4213060131221280012852\begin{array}{ccccc} \operatorname{Exp} & \text { Last } & \text { Net Chg } & \text { Open } & \text { High } & \text { Low }& \text { Settle} \\ \text { 08 Sep } & 1314^{\prime}0 & -3^{\prime} 4 & 1340^{\prime} 2 & 1340^{\prime} 6 & 1313^{\prime} 4 &1314^{\prime}0\\\text { 08 Nov } & 1285^{\prime }2 & +4{ }^{\prime}2 & 1306^{\prime}0 & 1312 ^{\prime}2&1280 ^{\prime}0&1285^{\prime}2 \\\end{array}
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Last week, you purchased four November 08 soybean futures contracts when the price quote was 1300?6. What is your current profit or loss on this investment?


A) -$3,100.00
B) -$2,625.00
C) -$31.00
D) $987.50
E) $3,350.00

Correct Answer:

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