Has the customer service team been laid off? There used to be customer service available at any time, but now why do we have to wait in long queues? @Longbridge小喬

I would like to inquire, I have a vertical strategy options portfolio, and tomorrow is the expiration date. The system has alerted me that the margin requirement may increase. If there is insufficient margin or no stock holdings, it may lead to automatic (at the worst price) liquidation.

So, how much exactly will the margin requirement increase?

Now, because I don’t know how much the margin requirement will increase, and if it exceeds my available margin, the system will liquidate my position at the worst price as quickly as possible. Based on the current bid and actual value, this would turn a portfolio that was supposed to make a steady 78% profit into a 20% loss, a 100% swing. To prevent this uncertainty, I have to sacrifice the potential steady profit, giving up 78% profit and settling for a 32% profit by liquidating early! This is really regrettable.

Additionally, I believe the vertical strategy does not require an increase in margin. Because the vertical strategy involves buying one put and selling another put with the same expiration date, it ensures that there are enough underlying shares for delivery at expiration. In theory, no margin increase is needed. For example, I bought a UnitedHealth 285 put expiring tomorrow and sold a 277.5 put. If both are exercised, the sold 277.5 put would require someone to sell me 100 shares of UnitedHealth at 277.5. Although I don’t have enough funds to take delivery of these 100 shares, I can immediately exercise the 285 put to sell the shares at 285 to the person who sold me this option. Thus, delivery is ensured without increasing the margin. Other price scenarios also ensure delivery.

In summary, I need to know how much the margin requirement will increase for the vertical strategy as it nears expiration. Also, I have explained the unnecessary reasons for increasing the margin for the vertical strategy above. Thank you for your answer!