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25.47 Their stock symbol is KFT, in case you were wondering.....

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Q: What was the price of Kraft stock on February 12 2009?
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A futures contract is an agreement to buy or sell on date A, quantity B of stock C for price per share D. When date A comes around, you must buy the stock for that price. How this can backfire on you is pretty easy to understand. You bought a futures contract to buy 10,000 shares of GM for $30 per share on June 1, 2009. On June 1, 2009, GM declared bankruptcy and its stock closed at 75 cents per share. An instant loss of $29.25 per share (or $292,500 on the whole deal) is enough to forever discourage anyone from trading in stock futures. Futures have a purpose in life--stabilizing the price of commodities for their users--but stock trading isn't one of those purposes. Options are different: they are like futures but you have the right, not the obligation, to complete the transaction. If you had bought a GM "call" option, you would have the right to buy GM at $30 on June 1. When GM went into the toilet you just wouldn't have exercised the contract. You can also deal in put options, which give their buyers the right to sell stock at a certain price. Puts are often used as insurance policies: if you have a stock you don't trust, you buy a put at the lowest price you want it to fall to. If it DOES fall below that price, you're rid of it.


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