Suppose you bought 2 contracts of silver futures two days ago, when it was selling for...

 

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Suppose you bought 2 contracts of silver futures two days ago, when it was selling for $23.78 per ounce (each contract is 5,000 troy ounce). Assume the initial margin is 8% and the maintenance margin is $16,000. One day later, silver decreased by 3%. One day after that (today), it decreased by another 2%. Given all of this, assuming you are still in the position, what is your margin balance now? Suppose you bought 2 contracts of silver futures two days ago, when it was selling for $23.78 per ounce (each contract is 5,000 troy ounce). Assume the initial margin is 8% and the maintenance margin is $16,000. One day later, silver decreased by 3%. One day after that (today), it decreased by another 2%. Given all of this, assuming you are still in the position, what is your margin balance now?

Answer rating: 100% (QA)

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