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Assume you purchased one June Euro futures contract on January 6, 2020 at the price of $1.3623. The contract size is 125,000 with an

Assume you purchased one June Euro futures contract on January 6, 2020 at the price of $1.3623. The contract size is 125,000 with an initial margin of $2430.00. (a) Was your position on the futures a short or a long position? (b) Explain how the CME group marked to market your position (your margin account) if the settlement price of the futures contract was $1.3598 on January 6, 2020 Then what was your ending margin account on January 6, 2020? (c) Suppose that you held this futures position until the expiration date (June 19, 2020) and the final settlement price was $1.3566 on the futures expiration date. Calculate your total gain/loss in the U.S. dollars during the entire holding period of the futures contact.

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