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2. (10 points) Today a trader enters into a long position in one July 2021 silver futures contract. The current futures price is $27.00 per

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2. (10 points) Today a trader enters into a long position in one July 2021 silver futures contract. The current futures price is $27.00 per ounce. The contract size is 5,000 ounce. The initial margin is $18,150 per contract and the maintenance margin is $16,500 per contract. (a) What price change of the July 2021 futures price would lead to a margin call? (b) Suppose the trader will close out her position on April 15, 2021, at a then prevailing July 2021 silver futures price of $27.50 per ounce. What would be her total profit or loss in this scenario

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