Last week,you sold 400 shares of Hi-Lo stock for $12,400.The sale was a short sale with an initial margin requirement of 70 percent.The maintenance margin is 40 percent.Some positive news concerning the company was released last night and the stock price jumped this morning to $38 a share.What is your current margin position in this stock?
A) 61.33 percent
B) 56.67 percent
C) 48.33 percent
D) 38.68 percent
E) 25.83 percent
Correct Answer:
Verified
Q85: Recently,you sold 500 shares of stock for
Q87: Briefly discuss any three (3)constraints that an
Q88: This morning,you shorted 100 shares of Better
Q88: You just sold 1,200 shares of stock
Q89: Briefly describe the basic elements of an
Q90: Matt short sold 500 shares of Tall
Q95: Recently,you sold 1,000 shares of stock for
Q95: You short sold 600 shares of a
Q97: You short sold 500 shares of Jasper
Q97: Matt short sold 600 shares of stock
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents