Question
You are a speculator in feeder cattle futures. Your initial margin is $2,025 per contract, and your maintenance margin is $1,500 per contract. Each contract
You are a speculator in feeder cattle futures. Your initial margin is $2,025 per contract, and your maintenance margin is $1,500 per contract. Each contract is for 50,000 lb. of feeder cattle. You open a short position in one contract at $1.672 per pound, and you offset your position later in the day at $1.644 per pound. What is the change in notional value of one contract from when you opened your position until when you offset it?
Enter your answer in dollars, rounded to the nearest dollar. If the change is negative, then type a minus sign in front of your answer. Do not type dollar signs or commas. For example, type -$1,234.56 as -1235
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