One contract is = 125,000

Margin = your equity position.

Initial Margin = the amount of money you must put into an account to open the futures position. This is still your money as you have not bought the contract, instead the margin amount is your escrow (or good faith) money to assure you will be able to pay for a loss to you in the contract.

Maintenance Margin = The minimum amount allowed in your margin account. Below that amount the futures position may be closed if you do not add funds to your account.

Margin Call = When your account reaches the Maintenance level and the futures broker calls you asking for more money.

8. Four days ago, you entered into a futures contract to sell 125,000 at $1.15 per . Over the past three days the contract has settled at $1.16, $1.17, and $1.18. You have not taken any money out of your account. How much have you made or lost?