Margin policies can be a little confusing to investors who have never used a margin account before, experienced traders, and just anybody else not a big fan of math. And as margin policies can vary from firm to firm, let’s just say confusion reigns.

But at TradingBlock, we maintain exchange minimum margin requirements to minimize the confusion (as best we can) and help our clients maximize their portfolio buying power. If you ever have any questions regarding margin and our margin policies, please contact our Trade Desk at 1-800-494-0451.
SecurityInitial MarginMaintenance MarginMinimum Equity Requirement
Buy STOCKIf stock price < $5.00 then 100% of stock purchase price If stock price >= $5.00 then 50% of stock purchase priceIf stock price < $5.00 then 100% of stock value If stock price >= $5.00 then 25% of stock value$2,000.00
Sell STOCKThe greater of: 150% of stock sale price, or The short position maintenance requirement100% of stock value plus, If stock price is < $5.00 then the greater of $2.50 per share or 100% of stock value, or If stock price >= $5.00 then the greater of $5.00 or 30% of stock value$2,000.00
Buy CALL or PUT100% of option purchase price$0.00$0.00
Sell CALLThe greater of: 100% of option sale price plus 20% of underlying value minus option out-of-the-money amount, or 100% of option sale price plus 10% of underlying valueThe greater of: 100% of option value plus 20% of underlying value minus option out-of-the-money amount, or 100% of option value plus 10% of underlying value$25,000.00
Sell PUTThe greater of: 100% of option sale price plus 20% of underlying value minus option out-of-the-money amount, or 100% option sale price plus 10% of option exercise priceThe greater of: 100% option value plus 20% of underlying value minus out-of-the-money amount, or 100% option value plus 10% of option exercise price$25,000.00
Buy STRADDLE or STRANGLE100% of option purchase price$0.00$0.00
Sell STRADDLE or STRANGLEThe greater of: The short call option initial requirement, or The short put option initial requirement, Plus 100% of other option sale priceThe greater of: The short call option maintenance requirement, or The short put option maintenance requirement, Plus 100% of other option value$25,000.00
Buy CALL CALENDAR SPREADLong leg expiry must occur after short leg expiry. If long leg exercise price <= short leg exercise price then 100% of option calendar spread purchase price If long leg exercise price > short leg exercise price then the amount that the short option exercise price is below the long option exercise price plus 100% of option calendar spread purchase priceLong leg expiry must occur after short leg expiry. If long leg exercise price <= short leg exercise price then $0.00 If long leg exercise price > short leg exercise price then the amount that the short option exercise price is below the long option exercise price$2,000.00
Buy PUT CALENDAR SPREADLong leg expiry must occur after short leg expiry. If long leg exercise price >= short leg exercise price then 100% of option calendar spread purchase price If long leg exercise price < short leg exercise price then the amount that the short option exercise price is above the long option exercise price plus 100% of option calendar spread purchase priceLong leg expiry must occur after short leg expiry. If long leg exercise price >= short leg exercise price then $0.00 If long leg exercise price < short leg exercise price then the amount that the short option exercise price is above the long option exercise price$2,000.00
Buy CALL or PUT VERTICAL100% of option vertical spread purchase price$0.00$2,000.00
Sell CALL VERTICALThe amount that the short option exercise price is below the long option exercise price minus 100% of option vertical spread sale priceThe amount that the short option exercise price is below the long option exercise price.$2,000.00
Sell PUT VERTICALThe amount that the short option exercise price is above the long option exercise price minus 100% of option vertical spread sale priceThe amount that the short option exercise price is above the long option exercise price.$2,000.00
Buy CALL or PUT BUTTERFLY100% of the option butterfly spread purchase price$0.00$2,000.00
Sell CALL or PUT BUTTERFLYThe difference between the two lowest exercise prices minus 100% of the option butterfly spread sale priceThe difference between the two lowest exercise prices $2,000.00
Buy CALL or PUT CONDOR100% of the option condor spread purchase price$0.00$2,000.00
Sell CALL CONDORThe difference between the two lowest exercise prices minus 100% of the option condor spread sale priceThe difference between the two lowest exercise prices $2,000.00
Sell PUT CONDORThe difference between the two highest exercise prices minus 100% of the option condor spread sale priceThe difference between the two highest exercise prices $2,000.00
Buy IRON BUTTERFLY100% of the option iron butterfly spread purchase price$0.00$2,000.00
Sell IRON BUTTERFLYThe initial requirement on one of the short option vertical spreads minus 100% of the option iron butterfly spread sale priceThe maintenance requirement on one of the short option vertical spreads$2,000.00
Buy IRON CONDOR100% of the option iron condor spread purchase price$0.00$2,000.00
Sell IRON CONDORThe initial requirement on one of the short option vertical spreads minus 100% of the option iron condor spread sale priceThe maintenance requirement on one of the short option vertical spreads$2,000.00
Buy BOX SPREAD100% of the option box spread purchase price$0.00$2,000.00
Sell BOX SPREADThe initial requirement on one of the short option vertical spreads minus 100% of the option box spread sale priceThe maintenance requirement on one of the short option vertical spreads$2,000.00
MARRIED PUTIf stock price < $5.00 then 100% of stock purchase price, plus 100% of option purchase price If stock price >= $5.00 then 50% of stock purchase price, plus 100% of option purchase priceIf stock price < $5.00 then 100% of stock value. If stock price >= $5.00 then the lower of: 10% of the option exercise price plus 100% of any out-of-the-money amount, or 25% of stock value.$2,000.00
COVERED PUTThe greater of: 150% of stock sale price, minus 100% of option sale price plus the amount that the option exercise price exceeds the stock price, or The maintenance requirement 100% of stock value plus, If stock price is < $5.00 then the greater of $2.50 per share or 100% of stock value, or If stock price >= $5.00 then the greater of $5.00 or 30% of stock value, plus the amount that the option exercise price exceeds the stock value.$25,000.00
MARRIED CALLThe greater of: 150% of stock sale price, plus 100% of option purchase price, or The maintenance requirement100% of stock value plus the lower of: 10% of the option exercise price plus 100% of any out-of-the-money amount, or If stock price is < $5.00 then the greater of $2.50 per share or 100% of stock value, or If stock price >= $5.00 then the greater of $5.00 or 30% of stock value.$25,000.00
COVERED CALLIf stock price < $5.00 then 100% of stock purchase price, minus 100% of option sale price If stock price >= $5.00 then 50% of stock purchase price, minus 100% of option sale priceIf stock price < $5.00 then 100% of stock value If stock price >= $5.00 then 25% of the lower of stock value or option exercise price$2,000.00
CONVERSIONIf stock price < $5.00 then 100% of stock purchase price, plus 100% of put option purchase price minus 100% of call option sale price If stock price >= $5.00 then 50% of stock purchase price, plus 100% of put option purchase price minus 100% of call option sale priceIf stock price < $5.00 then 100% of stock value If stock price >= $5.00 then 25% of the lower of stock value or option exercise price$2,000.00
REVERSAL150% of stock sale price, minus 100% of put option sale price plus 100% of call option purchase price plus the amount that the option exercise price exceeds the stock price10% of stock postion valued at option exercise price, plus the amount that the option exercise price exceeds the stock price$25,000.00
Buy COLLARIf stock price < $5.00 then 100% of stock purchase price, plus 100% of put option purchase price minus 100% of call option sale price If stock price >= $5.00 then 50% of the lower of call option exercise price or stock purchase price, plus 100% of put option purchase price minus 100% of call option sale priceIf stock price < $5.00 then 100% of stock value. If stock price >= $5.00 then the lower of: 10% of the put option exercise price plus 100% of any out-of-the-money amount, or 25% of call option exercise price.$2,000.00
Sell COLLARThe greater of: 150% of stock sale price, plus 100% of put option purchase price minus 100% of call option sale price, plus the amount that the put option exercise price exceeds the stock price, or The maintenance requirement100% of stock value plus, If stock price is < $5.00 then the greater of $2.50 per share or 100% of stock value, or If stock price >= $5.00 then the greater of $5.00 or 30% of stock value, plus the amount that the put option exercise price exceeds the stock value.$25,000.00