One NYMEX light sweet crude futures contract is for 1,000 barrels. Suppose you are long one...

  

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One NYMEX light sweet crude futures contract is for 1,000 barrels. Suppose you are long one contract. The initial margin for crude oil futures is $4.500 (per contract) and the maintenance margin is $3,700 (per contract). Given the daily settlement prices, complete the following table and identify any margin calls (i.e. when do they occur and how much margin has to be posted?): Margin Price Daily Day (per barrel) Gain/Loss Cumulative Gain/Loss Account Margin Balance Call 0 $49.49 1 $49.09 2 $47.98 3 $50.46 4 $52.07 5 $49.39 6 $45.77 7 $47.17 8 $48.08 9 $43.50 10 $45.99 a.) What is the Margin Account Balance at Day 0? b.) What is the Margin Account Balance at the end of Day 1? c.) At what futures price will you get your first Margin Call? d.) What is the Cumulative Gain/Loss at the end of Day 10? e.) What is the Margin Account Balance at the end of Day 10? One NYMEX light sweet crude futures contract is for 1,000 barrels. Suppose you are long one contract. The initial margin for crude oil futures is $4.500 (per contract) and the maintenance margin is $3,700 (per contract). Given the daily settlement prices, complete the following table and identify any margin calls (i.e. when do they occur and how much margin has to be posted?): Margin Price Daily Day (per barrel) Gain/Loss Cumulative Gain/Loss Account Margin Balance Call 0 $49.49 1 $49.09 2 $47.98 3 $50.46 4 $52.07 5 $49.39 6 $45.77 7 $47.17 8 $48.08 9 $43.50 10 $45.99 a.) What is the Margin Account Balance at Day 0? b.) What is the Margin Account Balance at the end of Day 1? c.) At what futures price will you get your first Margin Call? d.) What is the Cumulative Gain/Loss at the end of Day 10? e.) What is the Margin Account Balance at the end of Day 10?