Long Stock, Short Call and Long Put with the Same Expiration

Initial below $3.00/share: 100% stock + cost of put option and no requirement on short call

Initial $3.00/share and above: 50% stock + cost of put option and no requirement on short call

Maintenance below $3.00/share and call option in the money: lesser of 10% strike price of put option + 100% out of money amount on the put option or 100% call option strike price

Maintenance below $3.00/share and call option out of the money: lesser of 10% strike price of put option + 100% out of money amount on the put option or 100% call option strike price

Maintenance above $3.00/share and call option is in the money: lesser of 10% strike price of put option + 100% out of money amount on the put option or 25% call option strike price

Maintenance above $3.00/share and call option is out of the money: lesser of 10% strike price of put option + 100% out of money amount on the put option or 25% call option strike price

The market values and margin rates used to compute the initial and maintenance margin scenarios utilize OptionsHouse house standards. Higher margin rates may be utilized when calculating these scenarios.

The amount of money you can borrow on margin toward the purchase of securities is typically limited to 50 percent of the value of marginable securities in your account. However, it is prudent to borrow less to minimize risk.

Once you borrow on margin, you are required to maintain a certain amount of equity in your account, depending on the securities you hold. Typically, the equity maintenance requirement is at least 30% of the total account value, but it can be higher for certain securities or accounts.

Margin loans may be established by our clearing firm, Apex Clearing Corporation (“Apex”), in its sole discretion regardless of the amount of collateral delivered to Apex, and Apex may change such minimum and maximum amounts from time to time without notice to our customers.

In the interest of ensuring the continued safety of our clients, Apex may, without notice, modify certain margin policies to adjust for volatility in financial markets. The changes will promote reduction of leverage in client portfolios and help ensure that clients accounts are appropriately capitalized.

These margin requirements are based upon information that is considered reliable but OptionsHouse does not warrant this information’s completeness or accuracy and it should not be relied on as such. All margin requirements are subject to change without prior notice.