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 1/13/2012 98.54 98.5400 Initial Margin $1,000 Maintenance Margine $800 TODAY 1/13/12 A) Long Position 10 contracts Beginning Funds Futures Day (1) Balance Deposited Settlement Price Gain / Losses Ending Balance (2) (3) Price (4) Change (5) (6) (7) Commentary Friday, January 13, 2012 $0 $10,000 98.54 $10,000.00 Initial Deposit Monday, January 16, 2012 $10,000 $0 99.04 0.50 $12,500.00 $22,500.00 $25 increase for every basis point change Tuesday, January 17, 2012 $22,500 98.38 '0.66) ($16,500.00) $6,000.00 $25 decrease for every basis point change Wednesday, January 18, 2012 $6,000 $4,000 98.53 0. 15 $3, 750.00 $13, 750.00 Thursday, January 19, 2012 $13,750 $0 98.48 (0.05) ($1,250.00) $12,500.00 $25 decrease for every basis point change Friday, January 20, 2012 $ 12,500 $0 99.53 1.05 $26,250.00 $38,750.00 $25 increase for every basis point change Monday, January 23, 2012 $38,750 $0 97.45 (2.08) ($52,000.00) $13,250.00) Ending Balance Total Gain on January 23, 2012 (27,250.00)