it’s at a rather interesting break up candle/support zone as well at a fib retracement level (fib range = low on 3/18 up to hi on 9/10). Not “buying into strength” but a very tempting bold play none the less. Im waiting till the next gap level below at 19.87 to start scaling in

Margin Increase
Dear Client,

As you’ve likely observed, elevated option implied volatilities indicate that the markets will be confronting elevated volatility both before and after the November 2020 election. IBKR shares that sentiment and believe it’s appropriate to start controlling leverage in a measured fashion in advance.
Consequently, to protect IBKR and its customers, IBKR will increase margin requirements by as much as 35% above normal margin requirements leading up to the November U.S. election. To illustrate, consider a Reg. T margin account with stock XYZ having an Initial Margin requirement of 50% and a Maintenance Margin requirement of 25%. With the increase fully implemented, the new requirements would be 67.5% Initial and 33.75% Maintenance. Accounts subject to risk-based margin will have their scanning ranges increased in a similar manner.
This will be implemented gradually each day, increasing Initial margin requirements from normal levels starting September 28th to a rate that will be 35% higher by October 23rd. Maintenance margin requirements will increase in a similar manner between October 5th and October 30th. The new requirements will be implemented each day, after the market closes in New York, and will be effective the next trading day.
IBKR may make additional changes to the margin on certain products, or all products, depending on volatility. This includes changes built into the standard margin model as well as any new house margin requirements that may be imposed.
Interactive Brokers Client Services (**end IB message**)

It is typical to see margin balances surge to extremes following an extended bull run, such as we’ve had with the Fed-induced “free money” rally off the March lows. As the bulk of that margin borrowing is used to finance long positions, it only stands to reason that a substantial reduction in margin requirements by a large broker such as IB (and I’d imagine others might follow suit) will lead to forced selling which in turn, puts downward pressure on stock prices which then causes more losses, thereby triggering additional margin calls & so on & so forth (a vicious cycle). The best-case scenario is that the stock market can rally substantially from here which in turn, results in less forced selling as the soon-to-be increased margin requirements begin to kick in. Also, it would help if the margin increases are limited only to IB & not other brokers. Worse case, we get the vicious cycle of selling