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Suppose it is mid-March and you wish to short four (4) June Treasury Bond futures...

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Accounting

  1. Suppose it is mid-March and you wish to short four (4) June Treasury Bond futures contracts ($100,000 notional value per contract).

  1. Given a 10% initial margin and an 80% maintenance margin, complete the following mark-to-market table. Assume that you remove any excess funds that are eligible for removal. Make sure to indicate what your initial and maintenance margins are for this trade.

Day

Futures Price

Daily Gain/Loss

Cumulative Gain/Loss

Margin Account Balance

Maintenance Margin =

$______________

(indicate any deposits or withdrawals here)

Initial

100-24

N/A

N/A

N/A

Mar 16

101-28

Mar 17

98-10

Mar 18

97-24

Mar 19

102-00

Mar 20

103-16

  1. If you wanted to take your profit or loss at the end of March 20th, what specific steps would you take to exit the market?

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