Question: 5 days ago you thought that the crude oil price was going to drop so you went ahead and sold 10 futures contracts with delivery in 5 days (which is today). The original delivery price you sold at was $52.00 per barrel. Below is how the crude oil fluctuated during the 5 days since you sold the contract:
Day0 $52.00
Day1 $51.76
Day2 $51.56
Day3 $52.33
Day4 $51.99
Day5 $52.33
a. What's your total P/L?
b. Mark your account balance to market at the end of each day, assuming a 15% initial margin requirement.