Question
1.you (Friday) establish short Unleaded Gasoline (RBOB)futures positions for February, 2019 delivery via trades at the New York Mercantile Exchange(NYMEX). You commit to sell SIX(6)
1.you (Friday) establish "short" Unleaded Gasoline (RBOB)futures positions for February, 2019 delivery via trades at the New York Mercantile Exchange(NYMEX). You commit to sell SIX(6) contracts at the "pit" price of $2.0710 per gallon. Each NYMEX RBOB contract obligates you to deliver 42,000 gallons of unleaded gasoline to the Brooklyn, NY pipeline repository content terminal in 186 days time.
NBER announces new
expectations for strong Asian economic recoveries, with
associated 175% refined petroleum demands(vs.last year)
by mushrooming Chinese/Indian middle-class drivers.
Given these politically-motivated "supply shock" and
"demand pull" impacts in underlying physical markets;
Chaos breaks out in NYMEX gasoline pits resulting in
following RBOB settlements next week (units:/gallon):
Monday:211.75 Tuesday:218.91 Wednesday:214.43 Thursday:215.17
QUESTION IS ***: Determine which days (if any) you would have received a
margin call from the Clearinghouse/exchange.Be sure to
state call ($) amounts, daily margin account balance
changes, and end-of-day ($) totals in equity position??(make a table for this)
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