You are short 20 gasoline futures contracts, established at an initial settle price of .545 (see Figure
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You are short 20 gasoline futures contracts, established at an initial settle price of .545 (see Figure 16.1 for contract specifications). Your initial margin to establish the position is $1,200 per contract and the maintenance margin is $800 per contract. Over the subsequent four trading days, the settle price is .555, .560, .540, and .520, respectively. Compute the balance in your margin account at the end of each of the four trading days, and compute your total profit or loss at the end of the trading period.
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