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No I don't have portfolio margin at TD Amer ... this account is too small ... it is mostly for the seeming superior Think-Or-Swim platform tools (and I do most trading at InteractiveBrokers where I do have portfolio margin). Portfolio margin would help (and if I grow the account, I'll request...

An example is: SOLD -4 IRON CONDOR FB 19JAN18 195/200/165/160 CALL/PUT That position has a maximum loss of 4x5x100 = $2000 (less the premium collected), and -$2000 matches the "BP Effect" shown in the account positions. In the "TD Ameritrade Margin Handbook", they give a comparable example...

My "AVAILABLE DOLLARS" (for options) at TD Ameritrade is much less than my cash position reduced by the "BP Effect" of each option position. A simplified example: deposit $10,000 cash, wait to clear, and create 3 option positions with a -$2000 "BP Effect" each; then my "AVAILABLE DOLLARS"...

re: tommcginnis: "It is a *fair* idea, but only when buying out of spreads just isn't getting it done for a reasonable price". Got it (I think). If I have a one dead leg on Iron Condor, close the viable spread and then the other viable leg. The dead leg (for me) is invariably a long call or...

Thanks for your suggestions. I intended to ask how to easily construct a closing combo with fewer legs than the opening (e.g, close three of the four legs of an iron condor, for example), but you suggest how to close the position as separate orders. Truly, with IB TWS, I can easily create...

Is there any "easy" way to omit one leg from an option combo when closing the position? When one leg is unmarketable (i.e., nearly worthless), the easy ways I know of to close the position do not work. That is, the position will never close and there seems be no way to adjust the legs of the...