An Investor Enters a Short Position Worth $10,000 in Futures

Essay

An investor enters a short position worth $10,000 in futures contracts that require a maintenance margin that is 50% of this amount.The spot price of the underlying asset closes at the following prices for the next five days: $20.50, $20.75, $21.00, $20.75 and $20.00, and the current spot is $21.00.On what days will the investor receive a margin call and why? (Assume no deposits or withdrawals.)