Simple ?

indeed, depends on your broker. Some have $500 daytrade margins. Overnight margin is $3,938. So, if you broker offers $500 day, then you can have 8 contracts as a day trade, but only 1 overnight.

 

$4000 you can control up to 8 contracts intraday with most brokers, it would be 1 contract overnight

 

Thanks guys for all of your feedback

Its really appreciated