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4 p A silver futures contract requires the seller to deliver 5,000 Troy ounces of silver. Jerry Harris sells one July silver futures contract at
4 p A silver futures contract requires the seller to deliver 5,000 Troy ounces of silver. Jerry Harris sells one July silver futures contract at a price of $29 per ounce, posting a $7,000 initial margin. If the required maintenance margin is $3,500, what is the first price per ounce at which Harris would receive a maintenance margin call? a 28.30 29.70 O 28.70 29.30
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