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You just took a long position in 5 futures contracts for crude oil, at day 1 settlement price of $ 5 2 per barrel. Each

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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