Last Week, You Sold 300 Shares of Hi-Lo Stock for $13,200

question 30

Multiple Choice

Last week, you sold 300 shares of Hi-Lo stock for $13,200. The sale was a short sale with an initial margin requirement of 70 percent. The maintenance margin is 40 percent. Some positive news concerning the company was released last night and the stock price jumped this morning to $48 a share. What is your current margin position in this stock?

• A) 71.33 percent
• B) 66.67 percent
• C) 48.33 percent
• D) 46.67 percent
• E) 55.83 percent

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Definitions:

Truth Values

The values indicating the relation of a proposition to truth, commonly classified as true or false.

Main Connective

In logic, the operator within a proposition that determines the proposition's overall truth value; it links the main components of the proposition.

Symbolize

To represent or stand for something else, especially through the use of symbols or imagery.

Negation

A compound statement whose truth value is the opposite truth value of its component statement.