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A 10 Year Treasury Note Futures contract is purchased at a price of 103 per contract. The initial margin requirement is $3,100 per contract and
A 10 Year Treasury Note Futures contract is purchased at a price of 103 per contract. The initial margin requirement is $3,100 per contract and the maintenance margin requirement is $2,600 per contract. $10,000 is deposited in the account. The futures price changes to 99 and 20/32 per contract. The trading fees are 2.50 per contract. The futures contract is not sold. What is the margin excess or call after the change in price? Group of answer choices
$4,028 Margin Excess
$7,400 Margin Excess
$3,528 Margin Call
$5,750 Margin Call
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