Maintenace Margin question

Guy has $5 initial margin/contract. $3 maintenance/contract, 10 contracts. Price at t=0 is $100/contract. Day 2, guy needs to deposit $30 into margin account. What was the closing price on Day 1? Any help is greatly appreciated. Thanks in advance!

I assume you buy 10 contracts at $100, put $50 in initial margin price goes to $97 (you have $20 which is below maintenance margin amount of $30 -> you need to fill it up to initial margin) -> add $30 (you have $50 on the account which is equal to the initial margin). If you sell short 10 contract at $100, price goes to $103, then you get a margin call of $30.

Wouldn’t it be $95? If contract drops to $97 you would only get a margin call for $10 to get you back up to the $30 maintenance margin. Contract drops to $95, you need to the full $30 deposit to get back to maintenance margin.

remember this is a future contract. so you have to fill up to the initial margin every time.