Question

Suppose you sell ten July 2014 silver futures contracts on this day, at the last price...

Suppose you sell ten July 2014 silver futures contracts on this day, at the last price of the day which is $19.174 per ounce. Each contract is for 5,000 ounces.

What will your cumulative mark to market be if silver prices are $19.22 per ounce at expiration? (Do not round intermediate calculations. Enter your answer as a positive value if a profit or as a negative number if a loss. Round to the nearest whole number, i.e. dollar, e.g., 32.)

Cumulative MTM = $______

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