Recently, you sold 600 shares of stock for $17.60 a share. The sale was a short sale with an initial margin requirement of 70%. The maintenance margin is 35%. The stock is currently trading at $18.80 a share. What is your current short position in this stock?
A) $5,916
B) $6,840
C) $8,900
D) $10,532
E) $11,280
Correct Answer:
Verified
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