问题
单项选择题
A trader buys (takes a long position in) a T-bill futures contract ( $1 million face value) at 98.14 and closes it out at a price of 98.27. On this contract the trader has :
A．
| A. lost $325. |
B．
| B. gained $325. |
C．
| C. lost $1300. |
答案
参考答案：B
解析：The price is quoted as (one minus the annualized discount) in percent. Remember that the gains and losses on T-bill and Eurodollar futures are $25 per basis point of the price quote. The price is up 13 ticks and 13 × $25 is a gain of $325 for a long position.