On a given day a bond broker maintains a bid of $1,011.00 for a bond and an ask

Question

On a given day a bond broker maintains a bid of $1,011.00 for a bond and an ask price of $1,015.00. The broker made 28 trades that totaled 1,400 bonds traded that day. What was the broker's gross trading profit for this security?

rev: 02_21_2014_QC_44798, 05_13_2014_QC_49536

On a given day a bond broker maintains a bid of $1,011.00 for a bond and an ask price of $1,015.00. The broker made 28 trades that totaled 1,400 bonds traded that day. What was the broker's gross trading profit for this security?

Explanation / Answer

broker's gross trading profit for this security= ( 1,011.00 -1,015.00)*1400

Profit = $5,600.00 , first option

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