Question $11$

Suppose that on $2-$March Commodity Inc. enters into a forward contract to buy $100$ Troy ounces of silver from Metal Traders on $30-$March at price $$0\mathrm{.}75/$Troy ounce. If the

price of silver on $30-$March is $$0\mathrm{.}78/$Troy ounce, then

a$.$The pay off of Commodity Inc will be $-$$$0\mathrm{.}03$

b$.$The pay off of Commodity Inc will be $$0\mathrm{.}03$

c$.$The pay off of Metal Traders will be $$0\mathrm{.}03$

d$.$None of the above