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QUESTION 6 The initial margin for traders in the SP1200 contract is $7,655 per contract...

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QUESTION 6 The initial margin for traders in the SP1200 contract is $7,655 per contract and the maintenance margin is $5,749 per contract. Consider the following table of trades in the SPI futures contract. At the opening of trading the next day, how much was transferred to your clearing house account and by whom? Value Gain / Loss Number of contracts Level Open traded Position 15 (ie long 15 contracts) 7030 -25 (ie short 25 contracts) 7053 -10 6974 -20 6993 35 7040 Close 6959 a. $18,000 by the people who lost money b. $36,000 by the people who lost money C. Nil be nobody d. $18,000 by you

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