What is your profit or loss on the contract if the premium


Problem: If you buy a put option on a $100000 Canada bond futures contract with an exercise price of 95 and the price of the Canada bond is 120 at expiration, is the contract in the money, out of the money or at the money? What is your profit or loss on the contract if the premium was $4000? Please explain.

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Finance Basics: What is your profit or loss on the contract if the premium
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