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Suppose that yesterday you purchased 3 of the CME April 2020 Live Cattle futures contract at the price of 120 cents per pound. The initial
Suppose that yesterday you purchased 3 of the CME April 2020 Live Cattle futures contract at the price of 120 cents per pound. The initial margin for each of the live cattle contract is $2,250. You have deposited the initial margin for all three long positions. The FCM requires a maintenance margin that is 80% of the initial margin. Today the April 2020 Live Cattle futures contract settled at 117 cents per pound. You will receive a margin call from your exchange to replenish the account by the amount of
A$1,800
B$3,600
C$1,200
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