Homework Answers
Since it is a long position, an increase in the price will result in a profit.
The settle price has increased over the previous day because the change in price is positive ($1.98 per troy oz.).
Profit over the day = change in price * number of troy oz. per contract * number of contracts
Profit over the day = $1.98 * 100 * 55
Profit over the day = $10,890
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