You sell one December futures contracts when the futures price is $1,010 per unit. Each contract is on 100 units and the initial margin per contract that you provide is $2,000. The maintenance margin per contract is $1,500. During the next day the futures price drops to $1,008 per unit. What is the balance of your margin account at the end of the day?

Question options:

a)

$1,800

b)

$3,300

c)

$2,200

d)

$3,700