Hello, first of all, why is margin on a naked short ES option about $9500 when the margin on an ES futures contract is around $6000?
My second question is: I want to hold a reverse calendar spread until expiration day of the front option. When doing a reverse calendar spread using ES options, the margin is only about $900, but post expiry margin jumps to about $9500. I plan to close the position on expiration day so I won’t have the big margin jump, but with interactive brokers, their site…