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I very much doubt ...
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You doubt?
You are (were?) in a contest (like every trader), then ask (i.e. ask the right questions)!
I see that you try to learn, to understand! (But you are in a contest, and maybe responses are unfair to others in it.)
I recalculated and 122k $ as margin would be OK for me.
If you tell me the leverage, I will tell you the multiplier, and what a multiplier is good for.
Regards,
Hal
P.S.: Something about
Margin (finance) - Wikipedia, the free encyclopedia