| MONTH | LAST | OPEN | HIGH | LOW | SETTLE |
| Feb | 88.400 | 88.475 | 89.2 | 87.95 | 88.275 |
| Mar | 87.650 | ---- | 88.400 | 87.650 | 87.65 |
| May | 89.400 | ---- | 89.825 | 89.400 | 89.4 |
| July | 91.500 | 92 | 92 | 91.500 | 91.5 |
| Aug | 92.000 | ---- | 93.000 | ---- | 92 |
Frozen Pork Bellies futures contracts trade on the CME. Each contract calls for the delivery of 40,000 lbs. of USDA-inspected Pork Bellies. A summary of today's trading is provided in the table, above. The price of the contract is quoted in dollars per hundred pounds (100 lbs). A month ago you thought an increased demand for bacon would cause the price of frozen pork bellies to rise. To profit from this expectation you purchased one February contract at a price of $85. If you execute an offset trade today at the settlement price, then what is your cumulative profit?
◦ $1,310
◦ $1,360
◦ $1,390
◦ $1,400
