Today, a SFr future contract has the settlement price of $1.72/SFr at CME. The initial and maintenance margin are 150,000 USD and 100,000 USD of the contract value of 1,000,000 SFr in that order. The next five days' settlement prices are $1.85, $1.90, $1.70, $1.65 and $1.55.

2.1. How many contracts do you need if the contract value is 1,000,000 SFr? ( known that the SFr contract size is 125,000 SFr) (1 mark)

A. 3

B. 4

C. 5

D. Other_______________

2.2. In case of short position, what will the result in the balance of margin account after five days will be? (1 mark)

A. 300,000 USD

B. 450,000 SFr

C. 1,370,000 USD

D. Other______________

2.3. How much you have to pay more into margin account to maintain the short futures contract: (1 mark)

A. 100,000 USD

B. 110,000 USD

C. 120,000 USD

D. Other______________