THE VARABLES ARE

THE VARABLES ARE

X= ETE Y= OC Z= C

Position= Long Position= Long

X= 272 Y= 51 Z=1

IV.1.3. A contract covers 1,000 barrels of crude oil. The initial margin requirement is $3,375, and the maintenance margin requirement is $2,500. Your initial position is ALFA and the initial futures price is $Y. At what price would you get a margin call? (1