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The following table shows the futures price data today for Commodity X, and you purchased a futures contract today at the settlement price. Open High
- The following table shows the futures price data today for Commodity X, and you purchased a futures contract today at the settlement price.
| Open | High | Low | Settlement | Change | Open Interest |
Today | $16.28 | $16.33 | $16.25 | $16.29 | $(0.02) | 6,338 |
- Calculate the total value of this futures contract.
- If the initial and maintenance margin requirements are 15% and 10% of the contract value respectively, calculate the amount of deposit required to execute this contract.
- If the prices of the commodity X in the next 3 trading days are: $16.27, $16.40 and $16.97, calculate the profit/loss per kilogram of commodity X, total value of the contract, and the mark-to-market settlement. If additional margin is required, indicate when it is necessary and the additional deposit amount.
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