On January 1, You Bought One April S&P 500 Index

Multiple Choice

On January 1, you bought one April S&P 500 index futures contract at a futures price of 3,420. If, on February 1, the April futures price was 3,430, what would be your profit (loss) if you closed your position (without considering transactions costs) ?

A) $2,500 loss
B) $10 loss
C) $2,500 profit
D) $10 profit