Maximum loss that realize from the strategy

Question

Question 1. You just bought two April S&P 500 index futures contracts at a futures price of $400. If the April futures price is $380 one month later, you will have realized a _______ if you close your position.

• $380 profit
• $380 loss
• $10,000 profit
• $10,000 loss

Question 2: The current level of the S&P 500 index should be __________ if the futures price for a contract on the S&P 500 that will expire 6 months from now is $808, the dividend yield on the S&P 500 is 2%, and the risk-free interest rate is 4%.

• 816
• 808
• 800
• 828

Question 3. You just bought 100 shares of Microsoft for $80 per share and sold one Microsoft March 82 call contract for a call premium of $2. The maximum loss that you could realize from this strategy is

• $8,400
• $7,800
• $8,000
• $8,200