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Andrew Left short sold 10,000 GameStop (GME) shares at $30 per share. The initial margin requirement was 50%. The maintenance margin requirement is 30%. 1)

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Andrew Left short sold 10,000 GameStop (GME) shares at $30 per share. The initial margin requirement was 50%. The maintenance margin requirement is 30%. 1) Draw up Andrew's account immediately after the short-sale. 2) How far can GameStop stock price can rise before triggering a margin call? 3) Two days after the short-sale, GameStop stock price jumped to $60 per share. What is Andrew's margin then? Would he receive a margin call, and if so, for how much to restore the margin to the required maintenance margin level? 4) One week later, GameStop share price jumped to $90. Andrew decided to close out of his short position. Assume that GameStop did not pay any dividend. What is Andrew's rate of return from this short sale? Andrew Left short sold 10,000 GameStop (GME) shares at $30 per share. The initial margin requirement was 50%. The maintenance margin requirement is 30%. 1) Draw up Andrew's account immediately after the short-sale. 2) How far can GameStop stock price can rise before triggering a margin call? 3) Two days after the short-sale, GameStop stock price jumped to $60 per share. What is Andrew's margin then? Would he receive a margin call, and if so, for how much to restore the margin to the required maintenance margin level? 4) One week later, GameStop share price jumped to $90. Andrew decided to close out of his short position. Assume that GameStop did not pay any dividend. What is Andrew's rate of return from this short sale

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