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Exercise 5 (15 pts) The initial margin and maintenance margin of futures on soybean are $1050 and $950 per contract, respectively. Two months ago, Mr.
Exercise 5 (15 pts) The initial margin and maintenance margin of futures on soybean are $1050 and $950 per contract, respectively. Two months ago, Mr. Przebinda took a short position in 160 futures on soybean at the futures price of $4.01 per bushel (each contract is for 5000 bushels). Yesterday's settlement price was $5.20 and today's settlement price is $6.08. Before settlement today, the balance in Mr. Przebinda's account was $433600. Is he going to receive a margin call after settlement today? If yes, how much? Exercise 6 (15 pts) The initial margin and maintenance margin of futures on platinum are $4500 and $4000 per contract, respectively. In January, Mrs. Goodey took a long position in 19 futures on platinum that mature in December at the futures price of $971.42 (each contract is for 50 ounces). In May, she took a short position in 14 futures on platinum that mature also in December at the futures price of $976.48 (each contract is for 50 ounces). Yesterday's settlement price for the December contracts was $986.42 and today's settlement price for the December contracts is $985.65. Before settlement today, the balance in Mrs. Goodey's account was $20077. Is she going to receive a margin call after settlement today? If yes, how much? Exercise 5 (15 pts) The initial margin and maintenance margin of futures on soybean are $1050 and $950 per contract, respectively. Two months ago, Mr. Przebinda took a short position in 160 futures on soybean at the futures price of $4.01 per bushel (each contract is for 5000 bushels). Yesterday's settlement price was $5.20 and today's settlement price is $6.08. Before settlement today, the balance in Mr. Przebinda's account was $433600. Is he going to receive a margin call after settlement today? If yes, how much? Exercise 6 (15 pts) The initial margin and maintenance margin of futures on platinum are $4500 and $4000 per contract, respectively. In January, Mrs. Goodey took a long position in 19 futures on platinum that mature in December at the futures price of $971.42 (each contract is for 50 ounces). In May, she took a short position in 14 futures on platinum that mature also in December at the futures price of $976.48 (each contract is for 50 ounces). Yesterday's settlement price for the December contracts was $986.42 and today's settlement price for the December contracts is $985.65. Before settlement today, the balance in Mrs. Goodey's account was $20077. Is she going to receive a margin call after settlement today? If yes, how much
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