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papahomer papahomer
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5 years ago
You purchased one July futures contract of pork bellies at $.59 per lb. One contract represents 40,000 lbs. of pork bellies. By the end of the day, the price had fallen to $.57 per lb. How much did the value of your contract change during the day?
A) It rose by $800.
B) It fell by $356.
C) It fell by $800.
D) There is no change in value until the contract expires.
Textbook 

Financial Management: Principles and Applications


Edition: 13th
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vanrheevanrhee
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