Suppose that on day 1, a Japanese Yen future contract is purchased at the 118 per $ (opening price). Contract is for $ 1,000. Initial margin level is 17,000, and maintenance level is 11,000. Forming a table show daily marking to market adjustments for this future contract using the given opening or settle prices

(ASSUMPTION: As margin account reaches above the initial margin level, withdraw the amount above the initial margin level)

Day Opening or Settle Price

1 Open 118/$

1 Settle 120/$

2 Settle 126/$

3 Settle 119/$

4 Settle 113/$