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5. You sell futures contracts for a total of 15,000 bushels of corn at $3.75/bushel. Each contract is for 5,000 bushels of corn, so 3
5. You sell futures contracts for a total of 15,000 bushels of corn at $3.75/bushel. Each contract is for 5,000 bushels of corn, so 3 contracts are sold. The initial performance bond is $2,025 per contract and the maintenance margin is $1,500 per contract Fill in the table below. Remember, you may have to deposit additional funds in the account. (Assume there are no transaction costs.) a. Mon. morn $6,075 Initial performance bond Gain/(toss) for the day, plus any additional funds that need to be deposited into the account Mon, close $3.76 Ending balance for the day Gain/loss) for the day, plus any additional funds that need to be deposited into the account Tues, close $3.86 Ending balance for the day Gain/(loss) for the day, plus any additional funds that need to be deposited into the account Wed. close $3.83 Ending balance for the day Gain/(loss) for the day, plus any additional funds that need to be deposited into the account Thur. clo $3.82 Ending balance for the day
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