I frequently bring my "Current Maintenance" amount to within a few dollars of my "Equity with Loan" amount and have had short puts liquidated when IB's margin calculations have resulted in amounts greater than I had figured. For example: I'm short Worldcom $5 puts, so I figure that unless the stock drops under $0.10, that the market value of the put can't be less than $4.90. Using IB's formula [((100% * Market Value of Option) + $250)] I figure that $740 per Put is max I'll need. On day IB liquidated positions at $500 per, the stock had a low of $0.111 and I had a minimum of $746.89 CASH available per Put. I have been unable to get IB to provide me with the methodology they used to calculate the market value of the puts. Even if stock hit $0.01 who would willingly pay $5 for a $5 Put?