Question : A futures contract requires the seller to deliver $5,000$ Troy ounces of silver. Mr$.$ Vittal Rao sells one December silver futures contract at a price of $$17\mathrm{.}50$ per ounce. He is required to post an initial margin of $$1$ per ounce. We are also given that the required maintenance margin level is $$0\mathrm{.}60$ per ounce.

Answer the following:

a$)$ Suppose the next day the futures price closes at $$17\mathrm{.}80$ per ounce. In this scenario, will Mr$.$ Rao receive a maintenance margin call? Why or why not? Please explain succinctly in a few sentences.

b$)$ Compute the first price at which Mr$.$ Rao would receive a maintenance margin call. $($Do not consider the data given in part $($a$)$ while answering this question.$)$

c$)$ Compare and contrast margin requirements in stock markets vs$.$ futures markets. Briefly outline the similarities and differences between the two markets.