FA-61620 / Options payoff and settlement / Member archive

Uncovered short option margin requirement: puts use the call out-of-the-money amount · case 05

Deep out-of-the-money puts get no margin relief while in-the-money puts get relief.

Member previewVariant 5 · 3 implementations · 8 checks per implementation

Case contract

Inputs kind, underlying price, strike, premium, contracts and multiplier. Out-of-the-money amount is max(K-S,0) for calls and max(S-K,0) for puts. Per-unit requirement = premium + max(20% of underlying - OTM amount, 10% of floor base) where the floor base is the underlying for calls and the strike for puts. Return requirement*multiplier*contracts rounded to cents.

Why this case matters

Option expiry, exercise and settlement engines move cash and shares; a wrong branch misstates obligations.

One recorded failure

Sample boundary fixture

This sample comes from the broken implementation of a controlled reproducer.

Boundary fixture	Actual	Expected	Outcome
regression put out-of-money amount 1	`2800.0`	`2300.0`	Failed

MEMBER ARCHIVE

The complete case is available to members.

This record includes three runnable implementations, regression fixtures, execution results, and source hashes.

Member access is invitation-based. Sign in with your invited account to inspect the sources.