"Equity Investments":Market Organization and Structure
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Questions 1:
An investor opens a margin account with an initial deposit of $5,000. He then purchases 300 shares of a stock at $30 each on margin, and his account requires a maintenance margin of 30%. Ignoring commissions and interest, the price at which the investor will receive a margin call is closest to:
A 、$19.05.
B、$23.08.
C、 $23.81
Questions 2:
A trader who owns shares of a stock currently trading at $100 per share places a “GTC, stop $90, limit $85 sell” order (GTC means good till cancelled). Assuming the specified stop condition is satisfied and the order becomes executed, which of the following statements is most accurate?
A 、The order becomes a market order when the price falls below $85 and remains valid for execution.
B 、The trader faces a maximum realized loss of $15.
C、 The order will be executed at either $90 or $85.
A is correct.
B is correct. The order becomes valid when the price falls to, or below, $90. The “limit $85 sell” indicates that the trader is unwilling to sell below $85. Thus, the trader faces a maximum loss of $15 ($100 – $85). A is incorrect. The order becomes invalid for execution when the price falls below $85. C is incorrect. The order can be executed at any prices between $85 and $90.
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