Kizspy | Question: 37
(Choose 1 answer)
Today's settlement price on a Chicago Mercantile Exchange (CME) Yen futures contract is $0.8011/¥100.
Your margin account currently has a balance of $2,000. The next three days' settlement prices are
$0.8057/¥100, $0.7996/¥100, and $0.7985/¥100. (The contractual size of one CME Yen contract is
¥12,500,000). If you have a short position in one futures contract, the changes in the margin account from
daily marking-to-market will result in the balance of the margin account after the third day to be
A. $1,425.
B. $2,000.
C. $2,325.
D. $3,425.
