Fin 315 Practice Problemis: Coffee Futures Suppose that on Oet. 28 you decided to speculate in coffee futures. You went long one Dee, '22 contract at 158.50 cents per pound. The contract has an initial margin requirement of $3,000 and the maintenance margin is $1,125. You have not had a margin call. The contract elosed on Tuesday, Nov, 8 at 165.25 cents per pound, down 12 cents per pound from the previous day's close. Each contract is for 37,500 pounds: 1. How much money is in your margin account now? That is, how much moncy was in your margin account at the close of trading on Tuesday after your account was marked-to-market? (Remember that your account started with $3,000.) Answer: S 2. How much money did you make or lose on Tuesday? That is, how much was added or subtracted from your account on Tuesday when the account was marked to market? Answer: You Made / Lost $ for the day. (Circle One) 3. What's it going to take for you to have a margin call? That is, where does the futures price have to be for you to have a margin call? Answer: The futures price has to be Above/ Below call. for a margin Fin 315 Practice Problemis: Coffee Futures Suppose that on Oet. 28 you decided to speculate in coffee futures. You went long one Dee, '22 contract at 158.50 cents per pound. The contract has an initial margin requirement of $3,000 and the maintenance margin is $1,125. You have not had a margin call. The contract elosed on Tuesday, Nov, 8 at 165.25 cents per pound, down 12 cents per pound from the previous day's close. Each contract is for 37,500 pounds: 1. How much money is in your margin account now? That is, how much moncy was in your margin account at the close of trading on Tuesday after your account was marked-to-market? (Remember that your account started with $3,000.) Answer: S 2. How much money did you make or lose on Tuesday? That is, how much was added or subtracted from your account on Tuesday when the account was marked to market? Answer: You Made / Lost $ for the day. (Circle One) 3. What's it going to take for you to have a margin call? That is, where does the futures price have to be for you to have a margin call? Answer: The futures price has to be Above/ Below call. for a margin