Question
The initial margin for NYMEX May natural gas futures is $2500. The maintenance margin level is $1800. At the beginning of the day, you were
The initial margin for NYMEX May natural gas futures is $2500. The maintenance margin level is $1800. At the beginning of the day, you were short 1 NG futures contract, and you had $2000 in your margin account. Today, the NG price rises $.10/MMBTU. (Each NG futures contract is for 10,000 MMBTU). a. How much money is in your Margin account at the end of the day? b. Will you receive a margin call? c. How much margin money must you pay before trading opens tomorrow?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
