A future trader enters into a Long Futures position on SPI200 stock index futures on 15 March 2022, at the settlement price(index point) of 1235. The index multiplier is set at $25 and the initial margin requirement is $10,000. The clearinghouse has set the margin call for this future at 65% of the initial margin and there will be a margin call once the beginning balance falls below that threshold. Based on the given list of daily settlement prices, at which day has the trader received a margin call, and how much was the trader required to add(top-up) to his margin accounts upon the margin call?

Day	Beginning balance	Funds deposited	Settlement price (index point)	Gain/loss	Ending balance
15-Mar	0	$ 10,000	1235	$ -	$10,000
16-Mar			1112
17-Mar			1167
18-Mar			1109
19-Mar			909
20-Mar			900
21-Mar			945
22-Mar			1040
23-Mar			1237
24-Mar			1435
25-Mar			1693

Select one:

a.

On 20 March- $8,146

b.

On 18 March- $5,501

c.

On 21 March- $6,766

d.

On 19 March- $9,207