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How much value did each contract lose that day

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On a recent day, the September 2016 S&P Index futures contract (i.e., the S&P contract which expires in September) closed at 2000, down 40 points on the day. The value of the contract is set at 250 × the index.

1. How much value did each contract lose that day? Show your work.

2. When you bought the contract, you had to put up initial margin of $25,000. The maintenance margin is $12,500. At what contract price will you get a margin call? Explain.

Reference no: EM131160889

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