One day (i.e. Day 0), you opened a long position on a current month stock futures contract onStock Y at a settlement price of $35.50. The contract multiplier was 1,000. The initial marginand the maintenance margin for the contract were $6,400 and $5,120 respectively. Thesettlement price of Stock Y stock futures contract was closed at the following level on each ofthe days afterwards:Day 1: $34.50; Day 2: $34.00; Day 3: $33.25; Day 4: $36.50.
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