The following quotes are the closing spot prices and September futures contract prices for CHF on four consecutive days in July 20XX. You sold two CHF futures contract at the closing price on 7/01/XX. Each CHF futures contract requires the delivery of CHF 125,000. Suppose, the initial and maintenance margin for each CHF futures contract are $1.500 and $1,000, respectively. Date Closing CHF Spot Price 7/01 $0.7579 7/02 $0.7527 7/03 $0.7588 7/04 $0.7580 $0.7750 $0.7782 $0.7827 $0.7713 Closing September CHF Futures Contract Price The profit/loss posted to your account at the close of 7/04 is: $2.850 51425 53.325 -$1425