I am looking into calculating margin on futures mixed with futures options.
Say ES is trading at 2700 currently, I long 100 ES, 600k (Margin/risk). Then i buy 100 2680 puts. so Points Diff (2700-2680) * 50 * 100 which is 100k margin because i bought puts.
Now say that same situation I buy only 50 puts. do I now calculate 50 of the ES contracts at 50k margin then the other 50 at 6k margin each?