I would guess the expiry of put could be short term using weekly options or 3,6,9 months How does it matter at the end of the expiry the underlying position is 100$ protected assuming it was a ATM put!
I totally forgot about this, and the CME offices are closed now. I'll try to remember for tomorrow. (But anyone can do this, you know.)
It matters to the computer/ SPAN which calculates it....regardless if I agree with you cause it make sense, the final output is the margin calculator. here is what I plugged in and the output, if you need any other info, please PM me:
Ok so would there be a Margin call if the underlying Futures goes down reason to ask is ...becasue of delta of OPtion is not 1 the "Protection" is not 100% during the life of the option it is 100% only on Expiry
BS. For a dozen reasons you already know. As if your ES position would bury you and MES would magically suspend itself in time waiting for your magical “hedge” offset.
This time, I remembered to try a call at 3:58 PM ET. Asked for risk department, no answer. They're all working from home now I am sure, so the rep was prolly walking the dog. Clocked out early from his desk in the bedroom. That sort of thing.