Margining
How margin, collateral, and risk management work on Hypercall.
Overview
Hypercall uses SPAN-based portfolio margining that evaluates your portfolio's worst-case loss across multiple stress scenarios.
Key principle: margin = worst_loss + cash ≥ 0
Guides
Core Concepts
- Standard Margin - Basic margin calculation
- Portfolio Margin - Portfolio-level margining mechanics
- Margin Floor - Minimum margin requirements
Risk Events
- Settlement - Options expiry and cash settlement
Quick Reference
| Concept | Description |
|---|---|
| Initial Margin | Required to open a position |
| Maintenance Margin | Required to keep a position open |
| Worst-case Loss | Maximum loss across all stress scenarios |
| Liquidation | Forced position closure when margin insufficient |