Explanation

The total return for a commodity futures position consists of three components:

1. Price return - from changes in the futures price
2. Roll yield - from rolling futures contracts
3. Collateral return - from the collateral posted

Calculation:

• Price return = (Ending price - Beginning price) / Beginning price = ($99 - $100) / $100 = -1.0%
• Roll yield = +0.8% (given)
• Collateral return = +0.5% (given)

Total return = Price return + Roll yield + Collateral return = -1.0% + 0.8% + 0.5% = 0.3%

Therefore, the total return is closest to 0.3%, which corresponds to option B.