Question
ASSUME TODAY'S SETTLEMENT PRICE ON A CME CDN ($100,000 CANADIAN DOLLAR) FUTURES CONTRACT IS US$0.9400/CAD$. YOU HAVE A SHORT POSITION IN ONE CONTRACT. YOUR MARGIN
ASSUME TODAY'S SETTLEMENT PRICE ON A CME CDN ($100,000 CANADIAN DOLLAR) FUTURES CONTRACT IS US$0.9400/CAD$. YOU HAVE A SHORT POSITION IN ONE CONTRACT. YOUR MARGIN ACCOUNT CURRENTLY HAS A BALANCE OF US$1700. THE NEXT THREE DAYS' SETTLEMENT PRICES ARE:
US$0.9386
US$0.9393
US$0.9309
CALCULATE THE CHANGES IN THE MARGIN ACCOUNT FROM DAILY MARKING-TO-MARKET AND THE BALANCE OF MARGIN ACCOUNT AFTER THE THIRD DAY.
CHANGE IN DAY1?
CHANGE IN DAY2?
CHANGE IN DAY3?
BALANCE ON DAY 3?
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
9th Edition
0321598903, 978-0321598905
