Anyway maybe I'm wrong,
will simulate on Monday regarding margin requirements.
Hal.
OK, lets assume that the total value is 79 mio. $.
Further assume that the max. overnight margin is 4 % of the total value,
so it would be ca. 3.2 mio $. This would make more sense.
The 122k $ are near to (a close of 1.94 $ per contract * multiplier (i.e. 62500)).
And 122k $ * 650 are nearly 79 mio. $.
So excuse my above statements
. I've learned too on your question/call.
And I hope that this makes more sense to you
.
Have a nice weekend,
Hal