Margin calculation

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get even TT

Hi All:
Just wondering how the margin requirement would be calculated if I sold say a 40 call that expires in 1/2012 and then buy a 40 call that expires in say 4/11?
 
Unless you are on Portfolio Margining the short call would be considered naked and thus would carry the margin requirement of a naked short call as it expires after the long.
 
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