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An investor enters into a short futures position in 10 gold contracts at a futures price of $267.70 per oz. The size of one futures
An investor enters into a short futures position in 10 gold contracts at a futures price of $267.70 per oz. The size of one futures contract is 100 oz. The initial margin per contract is $1,472, and the maintenance margin is $1,071 per contract. Suppose the futures settlement price on the first day is $269.31 per ounce, and the futures settlement price on the second day is $271.98 per once, How much money must be added to the margin account to satisfy the margin call after the second day?
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$2,670
$4,280
$270
$0.00
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