Please answer both questions:

1. On Monday morning you sell one June T-bond futures contract at $97,000. The initial margin requirement is $2,700, and the maintenance margin requirement is $2,000 per contract. Use the following price data to answer the following questions.

Day		Settle
Monday	$	98,000.00
Tuesday	$	99,000.00
Wednesday	$	100,000.00

On which of the given days do you get a margin call?

		Wednesday
		Monday
		Tuesday
		none of these options

2.

Bob is cautiously bullish on the common stock of Tesla over the next several months. The current price of the stock is $1050 per share. Bob wants to establish a bullish money spread to help limit the cost of your option position. He finds the following option quotes:

Tesla	Underlying Stock price: $1050.00
Expiration	Strike	Call	Put
June	1045.00	8.50	2.00
June	1050.00	4.50	3.00
June	1055.00	2.00	7.50

If in June the stock price is $1053, Bob's net profit on the bull money spread (buy the 1045 call and sell the 1055 call) would be ________.

		None of the options
		$300
		$150
		$400
		$50