Sign a futures contract for the pound $(62,500)$ in the morning at the price of $$1\mathrm{.}30$ per$$

pound. The initial margin is $$0\mathrm{.}10$ per pound and the maintenance margin is $$0\mathrm{.}05.$

Calculate your equity position and the variation margin $($if there is any$)$ when the$$

settlement price at the end of the day is $$1\mathrm{.}26?$