A trader takes a position in a futures contract to sell 125,000 at $1.20/1. The initial performance bond was 2 percent of the USD contract value. The maintenance performance bond was 90 percent of the initial performance bond. Above/below what settlement price will the investor receive a margin call? Multiple Choice

$1.2024/1

$1.1976/1

$1.2228/1

None of the options.

$1.2122/1