Sammy sells 4 April 2023 WTI crude oil futures contracts at a price of 74.15. His broker requires an 11% margin. He is trading on the CME futures exchange. On the first day after his trade, the price of WTI crude oil drops to 73.89. On the second day after his trade the price of WTI crude goes to 76.25 On the third day after his trade the price of WTI crude oil goes to 76.89. What is the new value of Sammy's margin account? A. $20,538.50 B. $21,688.50 C. $30,066.00 D. $43,150.25 QUESTION 23 Sammy sells 4 April 2023 WTI crude oil futures contracts at a price of 74.15. His broker requires an 11% margin. He is trading on the CME futures exchange. On the first day after his trade, the price of WTI crude oil drops to 73.89. On the second day after his trade the price of WTI crude goes to 76.25 On the third day after his trade the price of WTI crude oil goes to 76.89. Does Sammy receive a margin call and if so, how much must he add to his account? A. NO, he does not receive a margin call and does not need to add anything. B. YES, he receives a margin call and must add $6,400 to his account. C. YES, he receives a margin call and must add $12,400 to his account. D. YES, he receives a margin call and must add $18,750.50 to his account. QUESTION 24 When Sammy closes his WTI Crude oil futures contracts, the value of his margin account will be returned to him. True False Sammy sells 4 April 2023 WTI crude oil futures contracts at a price of 74.15. His broker requires an 11% margin. He is trading on the CME futures exchange. On the first day after his trade, the price of WTI crude oil drops to 73.89. On the second day after his trade the price of WTI crude goes to 76.25 On the third day after his trade the price of WTI crude oil goes to 76.89. What is the new value of Sammy's margin account? A. $20,538.50 B. $21,688.50 C. $30,066.00 D. $43,150.25 QUESTION 23 Sammy sells 4 April 2023 WTI crude oil futures contracts at a price of 74.15. His broker requires an 11% margin. He is trading on the CME futures exchange. On the first day after his trade, the price of WTI crude oil drops to 73.89. On the second day after his trade the price of WTI crude goes to 76.25 On the third day after his trade the price of WTI crude oil goes to 76.89. Does Sammy receive a margin call and if so, how much must he add to his account? A. NO, he does not receive a margin call and does not need to add anything. B. YES, he receives a margin call and must add $6,400 to his account. C. YES, he receives a margin call and must add $12,400 to his account. D. YES, he receives a margin call and must add $18,750.50 to his account. QUESTION 24 When Sammy closes his WTI Crude oil futures contracts, the value of his margin account will be returned to him. True False
