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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
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. 7/02 Date Closing CHF Spot Price 7/01 $0.7579 7/03 $0.7588 7/04 $0.7580 $0.7527 $0.7750 $0.7782 $0.7827 $0.7713 Closing September CHF Futures Contract Price you will have in your margin account at the close Assuming that you meet your margin calls, if you get any, please estimate how much of 7/02: $3.000 -$800 $2.200 $2.000
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