What is the total initial margin on the three contracts

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A trader opens a new position by writing three naked call option contracts on Intel common stock. Each contract is on 100 shares. The option premium is $7.69, the strike price is $60, and the stock price is $65.19. All prices listed here are per share.

What is the total initial margin on the three contracts? Apply the CBOE margin requirements.

Reference no: EM133057331

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