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Futures Contracts on Palladium Are Based on 50 Troy Ounces

Question 39

Multiple Choice

Futures contracts on palladium are based on 50 troy ounces and are priced in dollars per troy ounce. Assume today's open price on one May contract was 758.90 and the settle price was 756.10. You own three May contracts which you purchased at a quote of 749.30. What is your total profit or loss to date?


A) $1,020
B) −$1,545
C) −$420
D) −$1,020
E) $1,545

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