I would appreciate your help in understanding how brokers price risk near expiration. I have a PM account. This isn't the first time I've faced this problem. Currently I have a put credit spread on a stock, short put is $500 strike and long protective put at $480. Net premium received is $9 per contract. I have three contracts. The stock is trading below $480 so I am at theoretical max loss which is technically $11 x 300 = $3300. The problem is that the bid/ask spreads are insanely wide now and getting out will realize larger losses than waiting to expiry. But if I wait to expiry, my broker marks an increasing margin requirement. Currently at 49% margin usage but it's saying in the closeout report it will jump to 120% thus implying a margin call beforehand, probably in the last 15 minutes of the market. It seems I'm stuck between a rock and hard place here due to broker mechanics.…