Jeff Getler sold (short) 30 ounces of gold at $1,500/oz and bought (long) 3,000 ounces of silver at $16/oz. The initial and maintenance margins for each position are, $4,500/$2,900 (gold) and $4,200/$3,100 (silver) respectively. The following table contains some information for the first 5 days after the contract initiation. (Hint: assume that the two accounts are merged - i.e., margin balance and margin calls are based on the net total of the two positions.)

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Margin Futures Futures Total Daily Account Day Price (gold) Price (silver) Gain/Loss Balance Margin call 0 $1,500 $16.00 1 $1,550 $15.60 2 $1,520 $15.80 3 $1,540 $14.45 4 $1,560 $14.20 5 $1,570 $13.80 Margin Futures Futures Total Daily Account Day Price (gold) Price (silver) Gain/Loss Balance Margin call 0 $1,500 $16.00 1 $1,550 $15.60 2 $1,520 $15.80 3 $1,540 $14.45 4 $1,560 $14.20 5 $1,570 $13.80