Q1 (Futures Margin call) You took a long position in 10 Eurodllar futures contracts (June 2014 delivery) on 1/13/2012 at the price indicated below. You met all margin calls, and did not withdraw any excess margin. All ED futures have a 90-day maturity and a notional principal of $1 million regardless of the delivery month. When the ED futures price increases by 1 basis point (98.35 to 98.36, for example), one long ED futures position gains $25, and one short ED futures position loses $25.

A. Complete table 1 and provide an explanation of any fund deposited.

B.How much is your total gain by the end of 1/23/2012?

90-day ED Sept 09 futures on 1/13/201298.5498.5400Initial Margin$1,000Maintenance Margine$800TODAY1/13/12Long Position10contractsDay (1)Beginning Balance (2)Funds Deposited (3)Settlement Price (4)Futures Price Change (5)Gain / Losses (6)Ending Balance (7)Friday, January 13, 2012$10,00098.54$10,000.00Monday, January 16, 2012$10,000$099.040.50$10,000.00Tuesday, January 17, 2012$10,00098.38(0.66)$10,000.00Wednesday, January 18, 2012$10,00098.530.15$10,000.00Thursday, January 19, 2012$10,00098.48(0.05)$10,000.00Friday, January 20, 2012$10,00099.531.05$10,000.00Monday, January 23, 2012$10,00097.45(2.08)$10,000.00