What is your open position at the close of trading

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Reference no: EM133492036

Case: You are a private trader, trading on your own account on ASX24, the futures trading platform at the Australian Securities Exchange. After several successful years of trading bond and bank bill futures, and several months of research, you decide to commence trading the SPI200 futures contract. The value of the initial margin for trading the SPI200 futures contract is $7,125 per contract and the maintenance margin per contract is $6,965. Today was your first day of trading the SPI200 contract. Your trades are listed in the table below. Presume your maximum open position in your day's trading is your maximum trading limit.

Using the information provided, please answer the following questions.

Number Traded	SPI 200 Price
+50 (ie long 50)	7163
-25 (ie short 25)	7149
-75	7137
-25	7125
+100	7145
+50	7155
-125	7166
-50	7141
+50	7163
+75	7137
Market Close	7120

Before you were able to start trading this contract, how much money did your broker ask you to deposit into your margin account to cover your maximum open position?

What was the quantum, and direction, of your exposure to movements in the physical market based upon your opening trade?

What is your open position at the close of trading?

In points, what was your profit (loss) for the day?

Before the commencement of trading the next day, how much money will be deposited into your account and by whom will this amount be deposited?

Reference no: EM133492036

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