4. Margin (12 points) You decide to trade some Hang Seng Index futures. The underlying asset of this contract is HK$50 times the level of the Hang Seng Index. Prices quotes are given in terms of the underlying Hang Seng Index. That is, daily settlements per contract are also multiplied by HK$50. You decide to go short 5 contracts with a delivery date of March 2021 with a quoted price of 23,600. You are a financially strong client, so your broker informs you that you have the follow- ing margin requirement: HK$110,300 per contract initial margin, and HK$88,200 per contract maintenance margin. You hold your position for at least 5 days. Copy the table below, and fill in the remaining columns. The column Margin" should contain the value of the margin account after daily settlement but before any margin calls. The column Margin Call?" should contain a yes or a no, depending on whether your broker will issue a margin call. The column Variation Margin should contain the variation margin, if applic and the column Margin After Call should contain the value of the margin account after you have paid any variation margin. Assume that the margin account pays no interest and that you do not take any profits out of your margin account. Variation Margin Margin After Call Day Settlement Price Margin Margin Call? 1 23,600 2 24,800 3 25,000 4 24,000 5 25,600 4. Margin (12 points) You decide to trade some Hang Seng Index futures. The underlying asset of this contract is HK$50 times the level of the Hang Seng Index. Prices quotes are given in terms of the underlying Hang Seng Index. That is, daily settlements per contract are also multiplied by HK$50. You decide to go short 5 contracts with a delivery date of March 2021 with a quoted price of 23,600. You are a financially strong client, so your broker informs you that you have the follow- ing margin requirement: HK$110,300 per contract initial margin, and HK$88,200 per contract maintenance margin. You hold your position for at least 5 days. Copy the table below, and fill in the remaining columns. The column Margin" should contain the value of the margin account after daily settlement but before any margin calls. The column Margin Call?" should contain a yes or a no, depending on whether your broker will issue a margin call. The column Variation Margin should contain the variation margin, if applic and the column Margin After Call should contain the value of the margin account after you have paid any variation margin. Assume that the margin account pays no interest and that you do not take any profits out of your margin account. Variation Margin Margin After Call Day Settlement Price Margin Margin Call? 1 23,600 2 24,800 3 25,000 4 24,000 5 25,600