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Homework answers / question archive / Suppose that on day 1, a Japanese Yen future contract is purchased at the ¥ 118 per S (opening price)
Suppose that on day 1, a Japanese Yen future contract is purchased at the ¥ 118 per S (opening price). Contract is for $ 1,500. Initial margin level is ¥16,000, and maintenance level is ¥ 10.500. Forming a table show daily marking to market adjustments for this future contract using the given opening or settle prices ASSUMPTION: As margin account reaches above the initial margin level, withdraw the amount above the initial margin level) Day 1 Open 1 Settle 2 Settle 3 Settle 4 Settle Opening or Settle Price ¥ 118/S ¥ 122/S ¥ 128/8 ¥ 119/5 ¥ 113/S