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Assume todays settlement price on a CME pound futures contract is $0.6080/. You have a short position in four contracts. Your margin account currently has
Assume todays settlement price on a CME pound futures contract is $0.6080/. You have a short position in four contracts. Your margin account currently has a balance of $10,500. The next three days settlement prices are $0.6066, $0.6073, and $0.5989. Calculate the margin account balance at the end of each day? (Assume a pound futures contract size is 100,000 and you have no maintenance margin) show your work.
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