An individual takes a long position in 2 December gold futures, traded on New York Commodity...
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An individual takes a long position in 2 December gold futures, traded on New York Commodity Exchange (COMEX), on June 3, 1996: (1) contract size is 100 az: (2) futures price entered into is US$400: (3) margin requirement is US$2,000/contract (US$4,000 in total); and (4) maintenance margin is US$1,500/contract (US$3,000 in total) In the following table listed a possible outcome of the futures price. Ramirez97 a. Complete the table. b. What is the gain/loss from June 4 to June 7? Day June 3 June 4 June 5 June 6 June 7 Futures: Price 400.00 397.00 400.00 390.20 397.10 396.70 Daily Gain (Loss) Cumulative Gain (loss) Margin Account Balance Margin Call An individual takes a long position in 2 December gold futures, traded on New York Commodity Exchange (COMEX), on June 3, 1996: (1) contract size is 100 az: (2) futures price entered into is US$400: (3) margin requirement is US$2,000/contract (US$4,000 in total); and (4) maintenance margin is US$1,500/contract (US$3,000 in total) In the following table listed a possible outcome of the futures price. Ramirez97 a. Complete the table. b. What is the gain/loss from June 4 to June 7? Day June 3 June 4 June 5 June 6 June 7 Futures: Price 400.00 397.00 400.00 390.20 397.10 396.70 Daily Gain (Loss) Cumulative Gain (loss) Margin Account Balance Margin Call
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Related Book For
Introduction To Corporate Finance
ISBN: 9781118300763
3rd Edition
Authors: Laurence Booth, Sean Cleary
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