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END OF DAY POSITIONS                MARGINS   CLOSING PRICES 
short 3 covered Colgate Nov35 calls $     0   Colgate Stock      $37.50
short 3 uncov. Colgate Nov 35 calls $ 3,330   Unisys Stock       $75.00
long  5 Unisys Nov 75 puts          $     0   Colgate Nov 35 Call $3.60
excess margin:             $ 2,820            Unisys Nov 75 Put   $1.75

TINA'S TRANSACTIONS ON DAY 3: Sold 2 GM March 70 puts at $2.00

TINA'S POSITIONS DURING DAY 3        MARGINS  CURRENT PRICES  

short 3 covered Colgate Nov35 calls $ 0 Colgate stock $39.00 uncov. Colgate Nov35 calls $ 3,330 Colgate Nov35 call $ 5.00 long 5 Unisys Nov 75 puts $ 0 GM Stock $72.00 short 2 uncov. GM Mar 70 puts $ ..... GM Mar 70 puts $ 3.00 excess margin: $ ..... Unisys Nov75 put $ 1.75

What is the NEW margin requirement for the 2 GM puts? display  helpThe calculation for 1 uncovered GM put is: 20 % of $7,200 + 100 % of $ 300 less out-of-the-money amount $ 200_____$ 1,540 MARGIN = 20 % of the current value of the underlying stock. PLUS 100 % of the premium. MINUS the amount the option is out-of-the-money.