In my account, I only have vertical (credit) spreads. Looking at my margin requirements I see: RegT Margin: 24k Current Initial margin: 35k Current Maintenance margin: 24k The RegT and maintenance margin amounts are correct - essentially matches the difference between the spread strikes (which is the most you can lose on the position). However, my initial margin is 11k higher. This is causing issues for opening new positions. The current initial margin is staying there, never changes to the correct lower number. Day after day.... After closing some positions, I have been able to identify that the incorrect margin is requirement is coming from my VXX spreads. It appears that IB is requiring more margin than its possible to lose on the spreads. I know a few weeks ago IB changed the margin requirements on volatility related instruments. However, even with those changes margin should NEVER be higher than the spread difference. What am I missing here? Anyone else having a similar issue?