On 11 12 XX, you decided to open a margin account to purchase S P 500 stock index futures The stock index futures traded at 1187 70 share when you opened your position Each contract has 250 shares of the S P 500 Index attached Your broker requires an initial margin of 10 of the total initial value of your futures position The maintenance margin is $20,000 per contract S P 500 stock index futures trades at 1178 on 11 13 XX How much must you deposit in a margin account if you wish to purchase two contracts on 11 12 XX Find your ending margin account balance on 11 13 XX Assume deficits are eliminated to keep the position open

Question

On 11 12 XX, you decided to open a margin account to purchase S P 500 stock index futures  The stock index futures traded at 1187 70 share when you opened your position  Each contract has 250 shares of the S P 500 Index attached  Your broker requires an initial margin of 10  of the total initial value of your futures position  The maintenance margin is $20,000 per contract  S P 500 stock index futures trades at 1178 on 11 13 XX  How much must you deposit in a margin account if you wish to purchase two contracts on 11 12 XX  Find your ending margin account balance on 11 13 XX  Assume deficits are eliminated to keep the position open

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Question

On 11/12/XX, you decided to open a margin account to purchase S&P 500 stock index futures. The stock index futures traded at 1187.70/share when you

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