You sell one December futures contracts when the futures price is $102.4 per unit. Each contract is on 1,000 units and t

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You sell one December futures contracts when the futures price
is $102.4 per unit. Each contract
is on 1,000 units and the initial margin per contract that you
provide is $9,000. The maintenance
margin per contract is $8,100.
a) During the next day the futures price rises to $104.2 per unit.
What is the balance of your
margin account at the end of the day? Do you receive a margin
call?
b) On the second day, the futures price goes up to $106.1.
Calculate the balance at the end
of the day. Do you receive a margin call?
c) On the third day, the futures price drops to $101.9 and you
close the position. Calculate
the total gain/loss on the contract