Margin account with the exchange clearing house

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Reference no: EM133976772

Question

At the end of one day a clearing house member is SHORT 100 contracts, and the settlement price is $50,000 per contract. The original margin is $2,000 per contract. On the following day themember becomes responsible for clearing an additional 20 SHORT contracts, entered into at a price of $51,000 per contract. The settlement price at the end of this day is $50,200. How much does the member have to add to its margin account with the exchange clearing house?

Reference no: EM133976772

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