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1 2 4 4. Clayton entered into four lumber contracts. Each lumber futures contract is for 110,000 board feet. The contract requires an initial margin

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1 2 4 4. Clayton entered into four lumber contracts. Each lumber futures contract is for 110,000 board feet. The contract requires an initial margin of $3,300 per contract and a maintenance margin of $2,200 per contract. Prices are in US dollars per 1,000 board feet. Complete the following chart: Day Price Settle Price Day Gain Cumulative Gain Margin Balance Margin Call 415.7 414.9 3 413.1 407.3 5 403.6 397.1 401.4 399.5 9 392.5 407.3 11 411.9 12 413.6 13 409.2 410.9 15 415.7 16 414.1 17 418.2 6 7 8 10 14

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