Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PLEASE SHOW WORK You shorted 50 contracts of 3-month USD/AUD futures at $0.7885. Three days later, the futures price $0.7995. The contract size is 125,000
PLEASE SHOW WORK
You shorted 50 contracts of 3-month USD/AUD futures at $0.7885. Three days later, the futures price $0.7995. The contract size is 125,000 AUD and the minimum margin is $2,500 for each contract. The maintenance margin is $1,500. Would you get a margin call in day 3? What would be your profit/loss if you closed out your position?
PLEASE SHOW WORK
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started