You short 21 futures contracts of gold (contract size = 100 oz.). The current futures price is $1,815 per ounce. The initial margin requirement is
You short 21 futures contracts of gold (contract size = 100 oz.). The current futures price is $1,815 per ounce. The initial margin requirement is $9,900 per contract. The maintenance margin is $9,000 per contract. At what price level would you be allowed to withdraw $8,888 from your margin account?
- A.$1,810.77
- B.$1,819.23
- C.$1,772.70
- D.$1,857.3
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Authors: Philip J. Adelman; Alan M. Marks
6th edition
9780133099096, 133140512, 133099091, 978-0133140514
