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The initial margin for traders in the SPI200 contract is $7,655 per contract and the maintenance margin is $6,806 per contract. Consider the following table
The initial margin for traders in the SPI200 contract is $7,655 per contract and the maintenance margin is $6,806 per contract. Consider the following table of trades in the SPI200 futures contract. Presume this is your first day of trading the SPI200.
What is the open position at the close of trading?
If this was the first day of trading for this individual and they traded until they hit their maximum open position, what is their initial margin and maintenance margin?
Number of contracts traded | Price |
-40 (ie short 40 contracts) | 7319 |
+70 (ie long 70 contracts) | 7349 |
-65 | 7333 |
+20 | 7368 |
-40 | 7381 |
Close | 7361 |
Select the correct answer
A | Long 70 contracts, initial margin of $535,850.00 and maintenance margin of $476,420.00 | |
B | Short 55 contracts, initial margin of $7,655.00 and maintenance margin of $6,806.00 | |
C | Short 40 contracts, initial margin of $306,200.00 and maintenance margin of $272,240.00 | |
D | Short 55 contracts, initial margin of $421,025.00 and maintenance margin of $374,330.00 |
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