1. Ashley got into a long position of 5 September 2022 Silver contracts at 20.500. Each contract is for 5000 troy ounces of silver. The prices at COMEX exchange are quoted as dollars per troy ounces. Her broker asked her to deposit 5% of the position as the initial margin. The next two days the closing prices were as follows:

Closing Price

Day 1 20.05 Day 2 19.95

What is the balance of Ashley's account at the end of day 2?

 

Answer rating: 100% (QA)

To calculate Ashleys account balance at the end of day 2 we need to consider the chang... View the full answer