Your broker requires an initial margin of $7,050 per futures contract on wheat and a maintenance margin of $5,000 per contract. Wheat futures contracts are based on 5,000 bushels and quoted in cents per bushel. You sold one wheat futures contract yesterday at the closing settlement price quote of 723. Today, the settlement quote is 854. Will you receive a margin call and if so, for what amount? All margin calls restore the margin level to its initial level.

A. Yes; $550

B. Yes; $6,550

C. Yes; $4,500

D. No

The 6-month futures price on a non-dividend-paying stock is $54.42. The risk-free rate is 3.52 percent and the market rate is 12.51 percent. What's the spot rate for this stock if spot-futures parity exists?

A. $53.49

B. $48.37

C. $55.12

D. $52.81

A 6-month $85 call option on a stock has an option premium of $.54. The 6-month, $85 put option has an option premium of $1.15. The risk-free rate is 2.5 percent. The options are European-style. What's the price of the stock?

A. $83.35

B. $82.89

C. $82.54

D. $84.28