Suppose you buy one stock index futures contract at 500.00 points at the commencement of trading on August 3. The multiplier on the contract is 1,000 (i.e. each index point has a dollar value of $1,000), so the underlying value of the contract is $1,000*500=$500,000. You hold the position open until selling it on August 7 at a price of 490.00.

The initial margin requirement for one stock index futures is $20,000, and the maintenance margin requirement is $10,000. Assume you deposit the variation margin or any margin call immediately at the end of each trading day and you do not withdraw the excess funds out of the margin account on any given day. Using the daily prices below, complete the table below showing the daily gain / loss and the margin account balance after any margin calls that may be made at the closing time of each trading day (but assuming margin calls are then immediately paid on the same day). Assume that the margin account does not pay interest.

Date	Settlement price	Daily gain/loss	Margin call	Margin account balance: End of Trading after any margin calls
August 3	498.00	?	?	?
August 4	505.00	?	?	?
August 5	475.00	?	?	?
August 6	485.00	?	?	?
August 7	488.00	?	?	?