I guess this is a no. Here's a quick and very dirty plot I generated (using this) for anyone who needs help developing their opinion.
I am still very confused... Maybe it's because it's super late and I am tired and will see why I'm too stupid to follow when I wake up tomorrow.... but what broker are you using that is expecting you to tie up that amount of cash for just being short the put on MSTR? Either trade with a different broker or... add a 3'rd leg into your synthetic. By putting a cheap & deep long-PUT, you'd cap the left-tail risk, so not only are you protected even from a MSTR Minsky-Moment, but you'd also have less margin requirement now which may very well give you a better RoI. I haven't run the numbers on it... so check first what it looks like!