Volatility warning

I don’t believe that this is true. When I look at the portfolio in Smart Volatility Margin at the market close today, I’ve got $17,400 in short TVIX, $10,600 in long SVXY, with SVXY and VXX options as protection. For those short volatility positions, the initial margin requirement is only $18,000 combined…so nowhere close to what you’re implying. Thanks, David.