### Comment:
The 294 calls he sold went ITM and the long call holder exercised early because SPY goes ex-dividend today. He'll be fine. RH will exercise his 295 calls and sell the shares to cover the margin call.

### REPLY:
That makes a lot more sense, he must have been holding 100 contracts of those 294 calls then. So instead of just selling the contracts yourself with a normal brokerage and covering the margin, RH is gonna sell them for him to cover the 2.9m as it poses “a margin risk” to them?

### END.