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A speculator enters into a long position in ten May wheat futures contracts at $5.003 per bushel. The contract size is 5,000 bushels. The initial
A speculator enters into a long position in ten May wheat futures contracts at $5.003 per bushel. The contract size is 5,000 bushels. The initial margin is $1,875 per contract, and the maintenance margin is $1,650 per contract. Calculate the futures price F such that, if the futures price drops below F, then the trader receives a margin call. (Heads up: I am asking you for a price per bushel.)
Enter your answer in dollars and cents, to four decimal places. Do not type dollar signs. For example, type a price of $4.1234 as 4.1234
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