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I don't have portfolio margin activated yet, but I'm curious how much margin does one SPX naked put require? Of course this may depend on your brokerage, so please include that in your response as well. Thanks in advance to anyone who responds!
If I sell one SPX put at 3675, it's about 35k initial margin, $32k maintenance margin. So about just under 10% of the notional value of the option.
I decide to keep about $140 of assets in the account per short put. Otherwise, this gets way too risky for me as a retiree.
Also, notice that your results can differ. As the name suggests, your margin will depend on the overall portfolio risk. If you have several long options, say due to a calendar spread trade, the margin calculations will take the potential offsetting effect into account.
Selling 150 pts OOM cost me 60k in margin, which means I have to sell more verticals to stay within limits.
I did just take the test and apply for portfolio margin on my TD Ameritrade account, which should help.
* Update *
Account shifted over to portfolio margin this morning and now most positions have only a 15% margin requirement.
Strangely BAF still requires 30%.
Should simplify the overlap when I'm selling at the close and before the expiring option is removed.