You own three January futures contracts on gold. What is the total value of your position as of the end of this day's trading?

You own three January futures contracts on gold. What is the total value of your position as of the end of this day's trading? Gold - 100 troy oz.: U.S. dollars and cents per troy oz.        A.  $66,050 B.  $66,740 C.  $66,820 D.  $198,150 E.  $200,460 Position value = 3 × 100 × $660.50 = $198,150

50.	What is the closing value on this day for one March futures contract on ethanol? Ethanol - 32,000 U.S. gallons: U.S. dollars and cents per gallon        A.  $54,400 B.  $54,528 C.  $59,416 D.  $1.703 million E.  $1.704 million Contract value = 32,000 × $1.704 = $54,528

51.

You purchased two May futures contracts on silver when the price quote was 10.420. Given today's closing prices as shown in the table, your total profit or loss to date is: Silver - 5,000 troy oz.: dollars and cents per troy oz.        A.  -$7,000 B.  -$3,500 C.  -$700 D.  -$350 E.  $70 Total loss to date = 2 × 5,000 × ($9.720 - $10.420) = -$7,000