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A stock has a current price of $257. A trader writes 10 naked option contracts on the stock, each contract covering 100 shares. The option

A stock has a current price of $257. A trader writes 10 naked option contracts on the stock, each contract covering 100 shares. The option price is $6, the strike price is $270, and the time to maturity is 4 months.

Part 1

What is the margin requirement if the options are call options (in $)?

Part 2

What is the margin requirement if the options are put options (in $)?

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