The crude oil futures contract on the new york mercantile, Ask an Expert

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The crude oil futures contract on the New York Mercantile Exchange covers 1,000 barrels of crude oil. The contract is quoted in dollars and cents per barrel (e.g., $27.42), and the mininum price change is $0.01. The initial margin requirement is $3,375, and hte maintenance margin is requirement is $2,500. Suppose you bought a contract at $27.42, putting up the initial margin. At what price would you get a margin call?

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Financial Management, Finance

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