Assume the settlement price on a T-Bond futures contract is 102 and the margin requirement is 7. Track the margin account value given the following assumptions about the daily closing prices of the futures contract. You sold the contract with a settlement price of 102.

Did you take a long or a short position?

Complete the table below.

DAY	CLOSING PRICE	CHANGE IN MARGIN ACCOUNT	MARGIN ACCOUNT VALUE
0	102	----------	7
5	101
15	102
30	100
EXPIRATION DATE	100
GAIN (LOSS)	------------	------------