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You think bilcoin is a fad, and an overvalued one at that. You short thee bitcoin futures contracts, each of which has five bilcoins as

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You think bilcoin is a fad, and an overvalued one at that. You short thee bitcoin futures contracts, each of which has five bilcoins as the underlying asset, at a price of 96.401. A month later the same contract sells for \$6,066. What is your dollar profit and your return on invested capital if you had to make an initial margin deposit of $41,337 ? What was the initial margin deposit relative to the value of the contracts you sold short? Does that percentage seem higher than the margin requirements of other assets? in general, what characieristic of bitcoin might lead the futures exchange to require a high initial margin? The prafit on this transaction is 3 (Round to the nearest dollar.)

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