Question
You purchase a Treasury-bond futures contract with an initial margin requirement of 15% and a futures price of $117,600. The contract is traded on a
You purchase a Treasury-bond futures contract with an initial margin requirement of 15% and a futures price of $117,600. The contract is traded on a $100,000 underlying par value bond. If the futures price falls to $106,600, what will be the percentage loss on your position? (Input the value as positive value. Do not round intermediate calculations. Round your answer to 2 decimal places.)
My calculations:
117600*.15=17640
100000-106600=(6600)
6600/17640=0.3741496*100
=37.41%
I've tried rounding up and down, but the website keeps saying I'm wrong. What am I missing?
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