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How much has manuela made or lost

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Question - On 4 March 2020, the quoted price of the June 2020 10-year bond futures contract was 98.2850. Manuela Grossman believed that interest rates would decrease over the next month and she entered into seven 10-year bond futures contracts in a position consistent with that view. On 11 March 2020, she closed out her position at a quoted price of 98.3425. Ignoring transaction costs, how much has Manuela made (or lost)?

a) $642.33.

b) -$4496.29.

c) $4496.29.

d) -$642.33.

e) None of the above answers is correct.

Reference no: EM133045618

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