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Assume that on April 27th of this year you were watching copper prices. Given their...

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Finance

Assume that on April 27th of this year you were watching copper prices. Given their trajectory, you felt they were going to decline. So you went short one contract at a price of 448.80 (this is in cents and 100ths of a cent). The initial margin is $6,050. The maintenance margin is $5,500. The minimum price movement is .05 cents (.0005 dollars) which equals $12.50. What date will you receive a margin call?

Date - Price in cents: 4/27/21 448.8 4/28/21 449.8 4/29/21 449.3 4/30/21 447.9 5/3/21 454.3 5/4/21 453.6 5/5/21 453.9 5/6/21 461.9 5/7/21 476.6 5/10/21 473.35 5/11/21 477.85 5/12/21 475.25 5/13/21 470.55 5/14/21 466.4 5/17/21 472.15 5/18/21 473.55 5/19/21 458.95 5/20/21 458.2 5/21/21 449.6 5/24/21 454.15 5/25/21 452.2 5/26/21 453.3 5/27/21 466.3 5/28/21 467.75

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