A silver futures contract requires the seller to deliver 5000 Troy ounces of silver. An investor sells one July silver futures contract at a price of $8 per ounce, posting a $2025 initial margin. If the required maintenance margin is $1500, the price per ounce at which the investor would first receive a maintenance margin call is closest to:
A．
| A. $5.92. |
B．
| B. $7.89. |
C．
| C. $8.11. |
参考答案：C
解析：A good way to deal with futures margins and mark to market calculations is to first calculate the movement in the contract value for a one-unit change in price-a dollar, a percent, a basis point, whatever fits the contract. One cent seems to fit here. A one-cent change in the price of silver means a $50 change on 5000 ounces. To lose more than $2025 - $1500 = $525, $0.11 will do it since 11 ×50 is 550.