Suppose that you open a long position in SPI 200 futures on 3rd June at 4540...

Suppose that you open a long position in SPI 200 futures on 3rd June at 4540 points. Each contract is $25 times the index level. You hold the position open until selling it on 10th June at the opening price of 4530. The initial margin requirement is $5000 and the maintenance margin is $3500. Assume that you deposit the initial margin and do not withdraw the excess on any given day.

Fill out the entries in the table given showing any deposits to the margin account and the balance of the margin account on 10th June. Also show the cumulative gain or loss on your position on 10th June. State exactly your profit when you close out your position on 10th June.

Date	SPI 200 Index Point	SPI 200 Dollar Value	Daily Gain /Loss	Cumulative Gain/Loss	Margin Balance	Margin Call
3 - June	4540
4 - June	4550
5 - June	4530
8 - June	4475
9 - June	4490
10 - June	4530

Expert Solution

jeff jeffy answered 2 years ago

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