Question
The futures contract quote on 5,000 bushels of soybeans traded on the CBOT, Monday,December 31, 2001 was:Open: 423-3/4 ($4.2375/bushel)High: 424 ($4.24/bushel)Low: 419-1/2 ($4.1950/bushel)Settle: 421 ($4.21/bushel)You
The futures contract quote on 5,000 bushels of soybeans traded on the CBOT, Monday,December 31, 2001 was:Open: 423-3/4 ($4.2375/bushel)High: 424 ($4.24/bushel)Low: 419-1/2 ($4.1950/bushel)Settle: 421 ($4.21/bushel)You shorted 3 contracts at $4.22 on December 31, 2001.The settlement for January 2, 2002 was $4.18 (the markets were closed on NewYears). If you had to post a $1,000 initial margin per contract upon placing the trade, what would be your trade account balance at the close of January 2, 2002?
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The Econometric Modelling Of Financial Time Series
Authors: Terence C. Mills, Raphael N. Markellos
3rd Edition
052171009X, 1107714125, 9780521710091, 9781107714120
