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3. Consider a futures contract in which the current futures price is 82$. The initial margin requirement is 5$/contract and the maintenance margin requirement is
3. Consider a futures contract in which the current futures price is 82$. The initial margin requirement is 5$/contract and the maintenance margin requirement is 2$/contract. You go long on 20 contracts and meet all margin calls but do not withdraw any excess margin. Assume that on the first day, the contract is established at the settlement price, so there is no mark-to-market gain or loss on that day. Complete the following table and provide an explanation of any funds deposited. Beginning Funds Futures Price Gain/ Ending Day balance deposited price change balance 82 1 84 Loss 0 78 wN 73 4 79 82 5 6 84
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