Iron Condor Adjustment Please help!

res123

Newbie
2 0
Hi All- I am new to options trading and in my enthusiasm placed a Iron Condor trade and am hoping someone can clarify a few things.

1. When closing an iron condor before expiration date, why would I be required to put additional margin? So, if I want to book losses early and close the entire trade its asking me to put up more in margin. Why?

2. I placed following trade:

AAPL FebWk4 522.5/525 Put 562.5/565 Call

AAPL is almost touching the short put of 525. Currently AAPL is at 525.25. With only 5 days left, what options do I have besides "hoping for best".

The problem is that if I try to exit the entire trade or even try to roll the put spread out to lower price by same Febwk4, it asks for a huge margin that I cannot cover at the moment. I thought about buying a long put but unsure if its the best option. Hoping to get some guidance over the weekend so I know what to do by Monday. Thanks in advance for any words of wisdom.

Res.
 
 
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