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I notice a number of posts curious about the details of Neke's trades. Presumably, people are wanting to put on the opposite?

What broker are you using? For LONG futures options, there should be no "margin" requirement - you pay the purchase price in cash. For SHORT positions, look at the margin requirements associated with the underlying.

Whatever you do, DON'T buy ANY kind of leveraged ETF (2x, 3x, long, short, doesn't matter) with funds you do not intend to touch. These products track over very short time frames e.g. 1 day and are suitable only for very short term trading.

I've heard that, more than any other quality, persistence is what separates the winners from the losers. You clearly have that. But your goals man! After this huge, devastating drawdown you are adjusting to a "modest" goal which actually works out to 6.5% per month return? Best of luck...

I would be VERY wary of using iTrade for anything other than the most simple long option positions. Ideally, don't use them at all. Ancient and buggy interface, no support at all, frequent severe errors (e.g. they once changed a long call position I had to SHORT call overnight for no apparent...