>>521292276
>If he's buying put options, he won't get a margin call. You post margin on futures trades, until settlement day.
>At worst his options are just worth zero.
Correct, that is IF he simply bought Puts and didn't do some kind of more risky trade like Call spread credits to fund his Put purchases. And remember, Puts are not free: that money is a loss against investment principal. I don't know exactly how much he has disclosed position wise, so I can't make a full determination. However, if he has been constantly buying puts since May 2025, he has been losing.