Question
Sammy buys 3 March 2023 corn contracts when the quote is 672'6. His broker requires a 12% margin. He is trading on the CME futures
Sammy buys 3 March 2023 corn contracts when the quote is 672'6. His broker requires a 12% margin. He is trading on the CME futures exchange.
One the first day after his purchase, the price of corn drops to 669'4. What is his margin account level using 669'4 as the settlement price?
| A. | $9,566.25 | |
| B. | $9,578.25 | |
| C. | $10,681.50 | |
| D. | $11,622.00 |
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Contemporary Issues In Behavioral Finance
Authors: Simon Grima
1st Edition
1787698823, 978-1787698826
