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On Monday morning you take a short position in a Euro futures contract. The price of the contract is $/ 1.48. At Monday close, the
On Monday morning you take a short position in a Euro futures contract. The price of the contract is $/ 1.48. At Monday close, the price of the contract is $/1.50. At Tuesday close, the price of the contract is $/ 1.51. On Wednesday morning, the price is $/1.49 and you close out your position by taking a long position in the same Euro futures contract. Specifically describe the steps (including margin account impacts) that occur at each of the following times: a) Monday Morning b) Monday Evening c) Tuesday Evening d) Wednesday Morning
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