You Sell One December Futures Contracts When the Futures Price

question 13

Multiple Choice

You sell one December futures contracts when the futures price is $1,010 per unit.Each contract is on 100 units and the initial margin per contract that you provide is $2,000.The maintenance margin per contract is $1,500.During the next day the futures price rises to $1,012 per unit.What is the balance of your margin account at the end of the day?

• A) $1,800
• B) $3,300
• C) $2,200
• D) $3,700

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Definitions:

Heterozygous

Having two different alleles of a particular gene, one inherited from each parent, resulting in variation of a specific genetic trait.

Nutrient Absorption

The process by which substances such as vitamins, minerals, and other food components are taken up and assimilated into the body, typically occurring in the intestines.

Hypha

One of the threadlike filaments composing the mycelium of a water mold or fungus.

Fruiting Body

The spore-producing structure of fungi and other plants which is usually seen above ground.