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标题: level one mock exam morning session [打印本页]

作者: yixixixi    时间: 2010-5-29 20:03     标题: level one mock exam morning session

Can someone explain no.96?

 

Thanks a million!


作者: margaretzhou    时间: 2010-5-31 17:39

Day 0: initial margin acct. bal.: 10*5=50

 

Day 1: price increases to 103, so acct. balance has to decline 3*10=30 (price increases gets loss for short position), ending balance 20<30(maintenance margin requirements)

 

Day 2: margin acct. bal. increases to 50

          price decreases to 96, so balance has to increase (103-96)*10=70, ending balance 120>30

 

Day 3: margin acct. balance 120

          price increases to 98, so balance has to decrease 2*10=20, ending balance 100.


作者: magxinchen    时间: 2010-5-31 23:00

今天刚好看到这道题,Day2不是increase到30而是50吗?
作者: annyyu    时间: 2010-6-1 12:40

because it is a future contract. you need bring back to the initial margin which is 50 in this case.






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