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On February 3, 2022 a trader sells five March 2022 E-mini S&P 500 Futures contracts when the March 2022 futures price was 4,548.25. Each S&P

On February 3, 2022 a trader sells five March 2022 E-mini S&P 500 Futures contracts when the March 2022 futures price was 4,548.25. Each S&P 500 futures contract equals $50 x Index Value. The initial margin is $11,880 and the maintenance margin is $10,800 per contract. The trader then sells the futures contract for 4,569.25 on February 10, 2022. a. Obtain the futures price at the time the trade is closed out and calculate the total change in the margin account balance over the period (indicate gain or loss)? b. What would the futures price need to change to for the trader to receive a margin call?

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