Benjamin Bought a Contract for Future Delivery of 5000 Bushels

Multiple Choice

Benjamin bought a contract for future delivery of 5000 bushels of oats at $3.64 per bushel and sold a later contract at $3.92 a bushel. A month later, corn prices were rising and Joseph sold his long contract for $4.01 per bushel and covered his short by purchasing a contract for $3.99 per bushel. Ignoring trading costs, Joseph

A) broke even.
B) made a profit of $1,850.
C) lost $1,500.
D) made a profit of $1,500.