5736. Long butterfly spread

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    1. Where a Dealer Member inventory or client account contains a long butterfly spread combination on the same underlying interest with all exchange-traded options expiring at the same time, such that short positions in two call options (or put options) are held and the short call options (or short put options) are at a middle exercise price and are flanked on either side by a long call option (or long put option) having a lower and higher exercise price respectively, and the interval between the exercise prices is equal, the minimum margin required is the net market value of the short and long call options (or put options).

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