Solution-What was her position initially

What was her position initially

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Reference no: EM133076149

Question - Ashley got into a long position of 5 September 2022 Silver contracts at 20.500. Each contract is for 5000 troy ounces of silver. The prices at COMEX exchange are quoted as dollars per troy ounces. Her broker asked her to deposit 5% of the position as the initial margin. The next two days the closing prices were as follows:

Closing Price

Day 1 20.05

Day 2 19.95

Required - What was her position initially?

Reference no: EM133076149

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What was her position initially

Reference no: EM133076149

Reference no: EM133076149

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