A trader enters into 2 short British Pound futures contracts @ $1.42 per GBP, and closed out his position @ $1.59 per GBP. What is his gain or loss in USD

$0.34

Explanation:

2 British pound futures @ $1.42 per GBP will become = $1.42 * 2 = $2.84

total money invested = $2.84

To go short means to sell British pound futures that means the trader was expecting to close out his position at a lower price than he/she entered hence he made a loss

closing out at $1.59 per GBP will amount to $1.59 * 2 = $3.18

His loss in USD = closing out price - total money invested

                               $3.18 - $2.84 = $0.34

His loss in USD is equal to $0.34

answer trochanter; i believe this is correct, plz check first, good luck;