1 You went long 2 December CME futures contracts on 125,000 EACH at today's price of $1.07535 per euro. Your initial performance bond was $12,000 per contract. (5 points) (10 points) (5 points) a) Your maintenance margin is $2,000 per contract. At what settle price (use 5 decimal places) do you expect to get a margin call? b) Do the daily resettlement if the first 2 days of trading have the following pattern: $1.5701/ day one settle and $1.5666/ day two settle. c) What are your total gains/losses by close of business on the second day? Clearly indicate if your numerical answer represents a gain or a loss."

1 You went long 2 December CME futures contracts on 125,000EACH at today's price of $1.07535 per euro. Your initial performance bond was $12,000 per contract. a) Your maintenance margin is $2,000 per contract. At what settle price (use 5 decimal places) do you expect to get a margin call? (5 points) b) Do the daily resettlement if the first 2 days of trading have the following pattern: $1.5701/E day one settle and $1.5666/E day two settle. (10 points) c) What are your total gains/losses by close of business on the second day? Clearly indicate if your numerical answer represents a gain or a loss. 1 You went long 2 December CME futures contracts on 125,000EACH at today's price of $1.07535 per euro. Your initial performance bond was $12,000 per contract. a) Your maintenance margin is $2,000 per contract. At what settle price (use 5 decimal places) do you expect to get a margin call? (5 points) b) Do the daily resettlement if the first 2 days of trading have the following pattern: $1.5701/E day one settle and $1.5666/E day two settle. (10 points) c) What are your total gains/losses by close of business on the second day? Clearly indicate if your numerical answer represents a gain or a loss