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You open a margin account and you buy 1000 shares of the ETF XIV at 150....

You open a margin account and you buy 1000 shares of the ETF XIV at 150. Your initial margin is 50%. Later, the shares drop to 6. At what point will you have received a margin call from the broker, assuming the maintenance margin is 20%?

b) suppose instead that you had shorted the XIV on 50% margin. What would have been your return?

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