Assume todays settlement price on a CME CDN (Canadian dollar) futures contract is US$0.9510/C$. You have a SHORT position in one contract. Your margin account currently has a balance of US$1,800.

The next three days settlement prices are:

Day 1: US$0.9386

Day 2: US$0.9393

Day 3: US$0.9309.

The contract size of a Canadian dollar futures contract is C$100,000.

1. Repeat the problem assuming you have a LONG position in the futures contract

Changes after Day 1:

Changes after Day 2:

Changes after Day 3:

Balance of Margin account end of Day 3: