48、The following information relates to a futures market contract: Initial futures price on Day 0 | $100 | Initial margin requirement | $5 | Maintenance margin requirement | $3 | Settlement price on Day 1 | $103 | Settlement price on Day 2 | $96 | Settlement price on Day 3 | $98 |
If no funds are withdrawn and margin calls are met at the beginning of the next day, the ending balance on Day 3 for an investor with a short position of 10 contracts is closest to: A. $50. B. $70. C. $80. D. $100.
Correct answer = D
"Futures Markets and Contracts," Don M. Chance
2008 Modular Level I, Vol. 6, pp. 55-58
Study Session 17-72-c
describe price limits and the process of marking to market and compute and interpret the margin balance, given the previous day's balance and the change in the futures price
At the end of Day 1, the balance in the investor's account would be $20.
At the beginning of Day 2, the investor would be required to deposit $30.
At the end of Day 2, the balance in the investor's account would be $120.
At the end of Day 3, the balance in the investor's account would be $100. | 
发表于 2008-5-27 15:21
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