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The crude oil futures contrat on the New York Mercantile Exchange covers 1,00 barrels of crude oil. The contract is quoted in dollars and cents
The crude oil futures contrat on the New York Mercantile Exchange covers 1,00 barrels of crude oil. The contract is quoted in dollars and cents per barrel, currently $27.42, and the minimum price change is $0.01. The initial margin requirement is $3,375, and the maintennance margin requirement is $2,500. Suppose you bought a contract at $27.42, putting up the initial margin. At what pricde per barrel would you get a margin call?
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