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This question was created from FIRE 451 Fall 2018 Futures Exam (1).docx https://www.coursehero.com/file/40528328/FIRE-451-Fall-2018-Futures-Exam-1docx/

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7'. You sell 4 May Silver futures contracts (each contract represents 5,000 ounces) at $15.25
per ounce. The initial margin per contract is $5,500 and the maintenance margin is $5,000 per contract. If Silver rises to $15.34, how much will be in your margin account?
a. $5,050
b. $5,500
c. $20,200
cl. $21,800
e. $23,800

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