You sell 900 shares of Kenny Corporation short. The price of…
You sell 900 shares of Kenny Corporation short. The price of the stock is $17.50 per share. The margin requirement is 61 percent. If stock goes up to $23.80, what is your percentage gain or loss on the initial margin (equity). Round your answer to the nearest basis point (i.e. xx.xx%). Denote a loss with a negative sign (-).
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