Protip: nobody calculates margin in real time accurately, especially when mixing option spreads across indices, stocks and futures in the same account.

Futures use SPAN margining and funds have to be moved behind the scenes but many brokers still report REG-T margin or the slightly more advanced Portfolio Margining which is capable of weighting the entire portfolio.

Ethically questionable? Who gives a fuck, did he make money or nah? The Fed, SROs, and individual brokerage firms set the margin limits. And when you are rich enough you can have your own lack-of-compliance officer and what-risk? manager