derivatives

The initial margin for traders in the SP1200 contract is $7,655 per contract and the maintenance margin is $6,806 per contract. Consider the following table of trades in the SP1200 futures contract. Presume this is your first day of trading the SP1200. What is the open position at the close of trading? If this was the first day of trading for this individual and they traded until they hit their maximum open position, what is their initial margin and maintenance margin? Number of contracts Price traded -40 (ie short 40 7219 contracts) +70 (ie long 70 7249 contracts) 8 7233 +20 7268 7281 Close 7261 Short 55 contracts, initial margin of $7,655.00 and maintenance margin of $6,806.00 Long 70 contracts, initial margin of $535,850.00 and maintenance margin of $476,420.00 Short 40 contracts, initial margin of $306,200.00 and maintenance margin of $272,240.00 Short 55 contracts, initial margin of $421,025.00 and maintenance margin of $374,330.00