You purchased one July futures contract of pork bellies at $.59 per lb. One contract represents 40,000 lbs. of pork bellies. Initial margin on the contract was 4% of the contract price with a maintenance margin of $500
By the end of the day, the price had fallen to $.57 per lb. How much will you be required to add to your margin account to replenish your maintenance margin?
A) None
B) $356
C) $144
D) $32
Answer: B
You might also like to view...
For a merchandising business, purchases refers to the merchandise acquired for resale to customers
Indicate whether the statement is true or false
Element Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $20.25 per share.
After a 2-for-1 stock split, what is the number of issued shares?
A) 280,000
B) 314,000
C) 297,000
D) 140,000
Which of the following does not represent a proposition of Stacey’s Complexity Theory?
a. Organizations operate in a linear fashion, communicating information in a predictable way b. If an organization becomes too stable it will be unable to change as needed c. People within an organization can’t control the long-term future d. Organizations are constantly drawn to stability and instability at the same time
To refer to a set of values in a condition, the values are placed inside parentheses ( ) and separated by commas
Indicate whether the statement is true or false