In: Finance
On Aug. 11, 2020, Joe purchased 3 futures contracts for corn at 378'2. The initial margin requirement is 10%. Over the next five days, the price of corn futures changed as follows:
Day | Price |
1 | 377'4 |
2 | 372'0 |
3 | 368'4 |
4 | 360'2 |
5 | 365'4 |