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$45.00 Use this information for questions 20-21. You short sell 150 shares on January 1, 2009 at an initial margin of 62.5% using the following
$45.00 Use this information for questions 20-21. You short sell 150 shares on January 1, 2009 at an initial margin of 62.5% using the following quoted prices: Date Bid Ask Jan. 1, 2009 $44.00 The broker has fixed your maintenance margin at 30 percent. Suppose you covered your short position on January 30, 2009 (a holding period of 30 days) at the price quoted below. Date Bid Ask Jan. 30, 2009 $54.38 $55.00 A dividend of $0.50 per share is paid on February 14, 2009. The commission for each transaction is 50 cents/share. Your initial margin amount deposited is: O 6600.00 O 4218.75 O 4125.00 None of the above
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