--- type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/36891296.md" description: "$Unitedhealth(UNH.US)@Longbridge @Longbridge Xiaoqiao** I found Longbridge's margin requirements for option combinations to be very unreasonable. **For example, the call vertical strategy option combination (I bought the 20270115 290 Call at 75.58 and sold the 20270115 400 Call at 30.78, with a maximum loss of 44.8), it does not calculate the margin for the option combination based on your maximum loss (USD 4,480), but roughly sets the margin to the price of the purchased Call (290 Call), and the margin requirement will increase as the value of this 290 Call increases.For example, suppose UnitedHealth Group surges to 400 tomorrow, at which point the 290 Call will be worth USD 12,500 and the 400 Call will be worth USD 6,200. At this point, my option combination is worth USD 6,300. My maximum loss is still the cost of USD 4,480. However, the margin requirement at this time will increase from USD 7,558 to USD 12,500. And I may be forced to liquidate quickly because the margin is much lower than required. When liquidating, it may also be due to the large price difference between the buyer and seller of the option, and the system chooses the most "fire sale" method to liquidate in order to liquidate quickly, resulting in losses. But for this option strategy, I should make money when the stock price rises, and there is no increase in risk throughout the process, but I will be forced to liquidate due to unreasonable margin requirements." datetime: "2025-12-03T17:44:58.000Z" locales: - [en](https://longbridge.com/en/topics/36891296.md) - [zh-CN](https://longbridge.com/zh-CN/topics/36891296.md) - [zh-HK](https://longbridge.com/zh-HK/topics/36891296.md) author: "[特朗普的首席交易员](https://longbridge.com/en/profiles/12424566.md)" --- # $Unitedhealth(UNH.US)@Longbridge @Longbridge Xiaoq… ### Related Stocks - [UNH.US](https://longbridge.com/en/quote/UNH.US.md) ## Comments (16) - **特朗普的首席交易员 · 2025-12-04T14:10:20.000Z**: Wow? Fixed so quickly? Longbridge efficiency 👍👍👍 - **一发入魂** (2025-12-04T14:47:31.000Z): No way, I took a look and the freeze still hasn't changed🤣 - **特朗普的首席交易员** (2025-12-04T14:54:32.000Z): Customer service: Currently still optimizing 😃 Stay tuned - **一发入魂** (2025-12-04T14:57:46.000Z): That's really something to look forward to, this way the capital efficiency is very high - **特朗普的首席交易员 · 2025-12-04T01:43:05.000Z · 👍 1**: Forced liquidation at the worst price, could have sold at 47-48, but was liquidated at 45, 5% less - **一发入魂 · 2025-12-03T18:22:37.000Z · 👍 1**: Here's the thing: your buying a call doesn't mean you're preparing inventory, because you don't actually have the stock. However, this sell order could potentially be exercised passively. Following your example, if the current stock price hits 500, you might be forced to exercise early. Of course, y - **特朗普的首席交易员** (2025-12-03T18:35:52.000Z): Understood, Longbridge itself does not support users exercising options early, but the options sold by Longbridge may be exercised early (I once encountered an early exercise when selling TSLY options - **一发入魂** (2025-12-03T18:40:59.000Z): Yes, that's correct, and even if Longbridge can exercise early, this early exercise action is triggered by the user rather than passively triggered. That means you might be sleeping when the other par - **丁真！寄 · 2025-12-03T18:12:10.000Z · 👍 1**: If exercising the option requires delivery, you need to deliver 100 underlying shares. Buying calls cannot serve as a guarantee for the underlying shares because options traders can lock your call purchases, preventing you from selling, which carries the risk of a margin call. - **特朗普的首席交易员** (2025-12-03T18:18:11.000Z): 😱 - **特朗普的首席交易员** (2025-12-03T18:19:12.000Z): Looks like we need to change an option combination, what a pity - **特朗普的首席交易员 · 2025-12-03T18:05:01.000Z**: It is recommended to set the margin requirement for the vertical strategy to the maximum loss (at most you lose everything and it can't get worse, don't know why there's an additional margin requirement) - **丁真！寄 · 2025-12-03T18:04:21.000Z · 👍 2**: Normally, for 100 underlying stocks, the put option needs to be hedged. - **特朗普的首席交易员** (2025-12-03T18:07:50.000Z): I bought calls to ensure the sold calls have sufficient stocks for delivery. The maximum loss of this strategy is $4,420, and the additional margin requirement is unclear.