Question

(e) Yesterday, you entered into a futures contract to buy €62,500 at $1.50/€. Your initial margin was $3,750 (-0.04 x €62,500 $1.50/€-4 percent of the contract value in dollars). Your maintenance margin is $2,000 (meaning that your broker leaves you alone until your account balance falls to $2,000). At what settle price (use 4 decimal places) do you get a margin call? B) Today's settlement price on a Chicago Mercantile Exchange (CME) yen futures contract is $0.8011//100. Your margin account currently has a balance of $2,000. The next three days' settlement prices are $0.8057//100, $0.7996//100, and $0.7985/¥100. (The contractual size of one CME yen contract is ¥12,500,000). If you have a short position in one futures contract, the changes in the margin account from daily marking-to-market will result in the balance of the margin account after the third day?

          (e) Yesterday, you entered into a futures contract to buy €62,500 at $1.50/€. Your initial margin was $3,750 (-0.04 x €62,500 $1.50/€-4 percent of the contract value in dollars). Your maintenance margin is $2,000 (meaning that your broker leaves you alone until your account balance falls to $2,000). At what settle price (use 4 decimal places) do you get a margin call?
B) Today's settlement price on a Chicago Mercantile Exchange (CME) yen futures contract is $0.8011//100. Your margin account currently has a balance of $2,000. The next three days' settlement prices are $0.8057//100, $0.7996//100, and $0.7985/¥100. (The contractual size of one CME yen contract is ¥12,500,000). If you have a short position in one futures contract, the changes in the margin account from daily marking-to-market will result in the balance of the margin account after the third day?

(e) Yesterday, you entered into a futures contract to buy €62,500 at 1.50/€. Your initial margin was3,750 (-0.04 x €62,500 1.50/€-4 percent of the contract value in dollars). Your maintenance margin is2,000 (meaning that your broker leaves you alone until your account balance falls to 2,000). At what settle price (use 4 decimal places) do you get a margin call?
B) Today's settlement price on a Chicago Mercantile Exchange (CME) yen futures contract is0.8011//100. Your margin account currently has a balance of 2,000. The next three days' settlement prices are0.8057//100, 0.7996//100, and0.7985/¥100. (The contractual size of one CME yen contract is ¥12,500,000). If you have a short position in one futures contract, the changes in the margin account from daily marking-to-market will result in the balance of the margin account after the third day?

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