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You bought a wheat contract ( 5 , 0 0 0 bushels ) at a price of $ 3 . 5 0 per bushel. The

You bought a wheat contract (5,000 bushels) at a price of $3.50 per bushel. The initial margin is $1,200 and the maintenance margin is $800. The table below shows the settlement prices for each of the following 10 trading days.
What is margin action on Day 6? If no margin action needed, fill with zero.
Day Price ($ per bu.) Margin Action Balance ($)
1 $3.50
2 $3.45
3 $3.33
4 $3.26
5 $3.20
6 $3.10
7 $3.35
8 $3.67
9 $3.80
10 $3.90

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