Unfortunately Tina was wrong. Rather than declining, the Unisys stock went up. The Unisys puts, bought at $2.50, went down to $1.75. Here is her situation at the end of day 2.
Positions Margins Cosing Prices
short 3 covered Colgate Nov 35 calls $ 0 Colgate Stock $37.50 short 3 uncov. Colgate Nov 35 calls $ ..... Colgate Stock $37.50 long 5 Unisys Nov 75 puts $ ..... Colgate Nov 35 C $ 3.60 Unisys Nov 75 P $ 1.75 excess margin: $ .....
What is the total margin requirement at the end of the day? Please enter the appropriate dollar amount.