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Suppose that you sell FOUR stock index futures contracts at the opening price of 452.25 on July 5. The nultiplier on the contract is 500,

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Suppose that you sell FOUR stock index futures contracts at the opening price of 452.25 on July 5. The nultiplier on the contract is 500, so the price is $226,125 per contract. You hold the positio them on July 20 at the price of 434.50. The initial margin and the maintenance margin requirements 56,600 and $6,000 per contract, respectively. Assume that you deposit the initial margin and do not wi n open until closing the excess on any given day. (2 points) a. Complete the table below given the following daily settlement prices. Settlement Beginning Balance Margin Call Deposits Ending Balance Day Price Profit/ Loss July 5,2017 453.95 July 6, 2017 454.50 July 7, 2017 452.00 July 8, 2017 443.55 July 9, 2017 441.65 July 12, 2017 442.85 July 13, 2017 444.15 July 14, 2017 442.25 July 15, 2017 438.30 July 16, 2017 435.05 July 19, 2017 435.50 July 20, 2017 434.50 What is your profit/loss on the 4 contracts you sold? How would you reconcile your account ending balance with the profits on the contracts? b

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