Question
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?
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Cases in Financial Reporting
Authors: Michael J. Sandretto
1st edition
538476796, 978-0538476799
