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II. If you open a one contract position in gold futures, you will currently be required to post $6750 in initial margin. Maintenance margin is
II. If you open a one contract position in gold futures, you will currently be required to post $6750 in initial margin. Maintenance margin is S5000. Suppose you long one June gold contract follows:) on February 14 and that the umis (100 ounces) on February 14 and that the June contract's settlement price (per ounce) changes as Feb. 14: $1350 Feb. 15: $1340 Feb. 16: $1320 Feb. 17: $1350 Feb. 18: $1360 Feb. 21: $1365 Feb. 22: $1355 Feb. 23: $1340 a. (8 points) Calculate (a) your daily gain or loss, (b) any deposits needed from your margin account, (c) the daily balance in your margin account. [Assume you don't make deposits unless you get a margin call]. b. (8 points) Repeat assuming you shorted one contract on February 14
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