Question: 2. A trader takes a long position on one December crude oil futures contract (contract size = 1,000 barrels) at $60/barrel. The initial margin requirement

2. A trader takes a long position on one December crude oil futures contract (contract size = 1,000 barrels) at $60/barrel. The initial margin requirement is $12,000 and the maintenance margin is $8,000. What price change will lead to a margin call? Please explain.

3. A trader takes a short position on one December crude oil futures contract (contract size = 1,000 barrels) at $60/barrel. The initial margin requirement is $12,000 and the maintenance margin is $6,000. What price change will lead to a margin call? Please explain.

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