The Spot Price of the Market Index Is $900

Multiple Choice

The spot price of the market index is $900.A 3-month forward contract on this index is priced at $930.What is the profit or loss to a short position if the spot price of the market index rises to $920 by the expiration date?

A) $20 gain
B) $20 loss
C) $10 gain
D) $10 loss