QUESTION 4 Not yet answered Marked out of 6.00 P Flag question DIFCOIL CONTRACTS Assume that you are a customer who opened an account with a brokerage firm. Assume today is the 15th May 2010, and you placed orders to buy 10 June Oil Futures Contracts at the newly opened DIFC Futures Exchange in Dubai which does all deals in USD. Assume each contract is equal to 1000 barrels of Dubai Crude Oil. Initial Margin per contract is $4000 and maintenance margin is $3200. Your broker purchased each June Futures contract at a price of $42 on the 15th May. illustrate the marking to market process by showing the daily settlement and cumulative balances in your account, assuming the following settlement prices prevailed on the next 5 working days and that you have not withdrawn any! money Settlement Prices hasth May 42.5 hoth May 17th May 143 41 44.5 118th May 19th May 20th May 45 What is your account balance on 18th May If you do an offset on the 20th May, calculate your gain or loss. Paragraph , BIEBO D