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You just took a long position in 5 futures contracts for crude oil, at day 1 settlement price of $52 per barrel. Each contract is
You just took a long position in 5 futures contracts for crude oil, at day 1 settlement price of $52 per barrel. Each contract is for 1,000 barrels. The initial margin is $11,000 per contract, and the maintenance margin is $7,000 per contract. The settlement price on days 2 through 8 are: $51,$38,$41,$44,$46, $43,$50. You then decide the close the trade on day 9 , at a price of $55. Make a table similar to the one on page 30 in the textbook (also see the example on Slide 14 in the Chapter 2 lecture notes) showing your margin account
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