A trader just entered a short position in two December 2023 $/CHF futures contracts when the...
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A trader just entered a short position in two December 2023 $/CHF futures contracts when the futures price was $1.1338/CHF. CHF is the symbol of the Swiss franc. Each contract is on CHF 125,000. The initial margin per contract is $4,000 and the maintenance margin per contract is $3,000. During the next five business days the futures price increases evenly each day until it reaches $1.1458/CHF on day five. What is the balance of the trader's margin account at the end of the fifth day? Assume the trader fulfills any margin call by the end of the day and withdraws any value exceeding the initial margin by the end of the day. A trader just entered a short position in two December 2023 $/CHF futures contracts when the futures price was $1.1338/CHF. CHF is the symbol of the Swiss franc. Each contract is on CHF 125,000. The initial margin per contract is $4,000 and the maintenance margin per contract is $3,000. During the next five business days the futures price increases evenly each day until it reaches $1.1458/CHF on day five. What is the balance of the trader's margin account at the end of the fifth day? Assume the trader fulfills any margin call by the end of the day and withdraws any value exceeding the initial margin by the end of the day.
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