Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 21 Aug 2017 My Price 5.00

Jerry Harris

3.   A silver futures contract requires the seller to deliver 5,000 Troy ounces of silver. Jerry Harris sells one July silver futures contract at a price of $14 per ounce, posting a $4,000 initial margin. If the required maintenance margin is $2,500, what is the first price per ounce at which Harris would receive a maintenance margin call?

4.   a. Turn to Figure 17.1, and locate the contract on the Standard & Poor’s 500 index. If the margin requirement is 10% of the futures price times the multiplier of $250, how much must you deposit with your broker to trade the March contract?

b.   If the March futures price were to increase to 1450, what percentage return would you earn on your net investment if you entered the long side of the contract at the price shown in the figure?

c.   If the March futures price falls by 1%, what is the percentage gain or loss on your net investment?

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Aug 2017 01:08 PM My Price 5.00

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