Consider an investor that takes a long position in two gold futures contracts. Assume that the initial margin is $6,000 per contract. The maintenance margin is $4,500 per contract. Day Trade Price Settlement Price Daily Gain/Loss 1 1,250 1 1,241 -1,800 N 1,230 -2,200 3 3 1,225 -1,000 4 $2,220 - 1,000 5 5 1,220 Page 38 0 The contract is entered into on Day 1 at $1,250 and closed out on Day 5 at $1,220. By the end of which days does the investor receive a margin call