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You took a long position in 10 F/X futures contracts on 1/13/20X1 at the price indicated below. You met all margin calls, and did not
You took a long position in 10 F/X futures contracts on 1/13/20X1 at the price indicated below. You met all margin calls, and did not withdraw any excess margin. All F/X futures have a size of contract of 125,000 euros regardless of the delivery month. Assume that the initial margin is $4,000 per contract and the maintenance margin is $2,500 per contract.
Complete the following table and provide an explanation of any fund deposited.
How much is your total gain by the end of 1/21/2X21
| Settlement F/X rate | $ 1.00 | per euro | |
| Initial Margin | $4,000 | ||
| Maintenance Margine | $2,500 | ||
| Contract size | 125,000 | ||
| TODAY | 1/13/20X1 | ||
| Long Position | 10 | contracts |
| Day | Beginning Balance | Funds Deposited | Settlement Price | Futures Price Change | Gain / Losses | Ending Balance |
| Jan 13, 20X1 (Wed) | $0.00 | $1.000 | ||||
| Jan 14, 20X1 (Thurs) | $1.020 | |||||
| Jan 15, 20X1 (Fri) | $0.990 | |||||
| Jan 18, 20X1 (Mon) | $0.985 | |||||
| Jan 19, 20X1 (Tue) | $0.985 | |||||
| Jan 20, 20X1 (Wed) | $1.000 | |||||
| Jan 21, 20X1 (Thurs) | $1.010 |
| Total Gains |
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