QUESTION 4 The initial margin for traders in the SP1200 contract is $7,655 per contract and the maintenance margin is $5,749 per contract. Consider the following table of trades in the SP1200 futures contract. 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 traded Level Open Position Value Gain/Loss 7030 15 (ie long 15 contracts) 7053 -25 (ie short 25 contracts) 6974 -10 6993 -20 7040 35 6959 Close a. Long 15 contracts, initial margin of $114,825.00 and maintenance margin of $86,235.00 b. Long 35 contracts, initial margin of $7,655.00 and maintenance margin of $5,749.00 C. Short 5 contracts, initial margin of $306,200.00 and the maintenance margin of $229,960.00 d. Long 35 contracts, initial margin of $267,925.00 and maintenance margin of $201,215.00