Question: Using the EWMA volatility estimated via the recursive approach. estimate the one-day and 10-day (2-week) VaR of a long and of a short position in

Using the EWMA volatility estimated via the recursive approach. estimate the one-day and 10-day (2-week) VaR of a long and of a short position in GameStop stock with an initial value of $1,000,000, at the 95, 99, and 99.5 percent confidence levels, as of 29Jul2022. Ex-press the VaR in dollars. Use the exact formula or the arithmetic return approximation.

Date	Spot price
07/18/2022	36.66
07/19/2022	37.925
07/20/2022	39.6875
07/21/2022	38.3675
07/22/2022	35.78
07/25/2022	33.98
07/26/2022	32.43
07/27/2022	33.78
07/28/2022	33.84
07/29/2022	34.01

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