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Please answer the next question based on the closing July futures contract prices for GBP for three consecutive days in June 20XX. You bought two
Please answer the next question based on the closing July futures contract prices for GBP for three consecutive days in June 20XX. You bought two GBP futures contract at the closing price on 3/01. Each GBP futures contract requires the delivery of GBP 125,000. Suppose, the initial and maintenance margin for each GBP futures contract are $2,000 and $1,000, respectively. Date GBP Spot Price July GBP Futures Contract Price 3/01 $1.5374 $1.5545 3/02 $1.5305 S1.5500 3/03 $1.5285 $1.5487 The profit/loss posted to your account at the close of 3/03 is: -325.0 325.0 0 -162.5 162.5
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