Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Last week, you sold 300 shares of ABC stock for $6,300. The sale was a short sale with an initial margin requirement of 70 percent.

Last week, you sold 300 shares of ABC stock for $6,300. The sale was a short sale with an initial margin requirement of 70 percent. The maintenance margin is 40 percent. Some positive news concerning the company was released last night and the stock price jumped this morning to $28 a share. What is your current margin position in this stock? percentage

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sustainable Finance And Impact Investing

Authors: Alan S. Gutterman

1st Edition

1637423764, 978-1637423769

More Books

Students also viewed these Finance questions