Last Week, You Sold 300 Shares of ABC Stock for $6,300

Last week, you sold 300 shares of ABC stock for $6,300. The sale was a short sale with an initial margin requirement of 70%. The maintenance margin is 40%. Some positive news concerning the company was released last night and the stock price jumped this morning to $28 a share. What is your current margin position in this stock?

A) 61.33%
B) 56.67%
C) 48.33%
D) 38.68%
E) 27.50%