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Calculate the firm total profit

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Question - In September 2019, a firm takes a long position in a contract on May 2020 crude oil futures. The firm closes out its position in March 2020. The futures price (per barrel) is $66.2 when the firm enters into the contract, $69.2 at the end of December 2019, and $74.6 when the firm closes out its position. One contract is for the delivery of 1000 barrels. Calculate the firm's total profit (loss)?

a. -8400.00 dollars

b. -3000.00 dollars

c. 3000.00 dollars

d. 8400.00 dollars

e. None of the other answers provided is the best answer

Reference no: EM132995242

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