Today's settlement price on a Chicago Mercantile Exchange (CME) Yen futures contract is $0.8011/¥100. Your margin account currently has a balance of $2,000. The next three days' settlement prices are $0.8057/¥100, $0.7996/¥100, and $0.7985/¥100. (The contractual size of one CME Yen contract is ¥12,500,000).
-If you have a short position in one futures contract,the changes in the margin account from daily marking-to-market will result in the balance of the margin account after the third day to be:

Question

Quizplus · Accepted Answer

$2,000 +{ ¥12,500,000 × [(0.008011 - 0.008057) + (0.008057 - 0.007996)+ (0.007996 - 0.007985)]} = $2,325Please note that $0.8011/¥100 = $0.008011/¥ and $0.8057/¥100 = $0.008057/¥, etc.

Today's Settlement Price on a Chicago Mercantile Exchange (CME) Yen