One margin account through four events: equity, requirement, and SMA
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-19, from What Is a Special Memorandum Account (SMA)?.
| event | market_value | debit_balance | equity | reg_t_requirement | margin_excess | sma | buying_power |
|---|---|---|---|---|---|---|---|
| Start | 40000 | 20000 | 20000 | 20000 | 0 | 0 | 0 |
| Deposit 5k cash | 40000 | 15000 | 25000 | 20000 | 5000 | 5000 | 10000 |
| Stock gains 8k | 48000 | 15000 | 33000 | 24000 | 9000 | 9000 | 18000 |
| Stock gives 8k back | 40000 | 15000 | 25000 | 20000 | 5000 | 9000 | 18000 |
| Buy 12k on margin | 52000 | 27000 | 25000 | 26000 | -1000 | 3000 | 6000 |
- Rows × columns
- 5 × 8
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
event |
text | 5 distinct values | |
market_value |
number | 40,000 to 52,000 | |
debit_balance |
number | 15,000 to 27,000 | |
equity |
number | 20,000 to 33,000 | |
reg_t_requirement |
number | 20,000 to 26,000 | |
margin_excess |
number | -1,000 to 9,000 | |
sma |
number | 0 to 9,000 | |
buying_power |
number | 0 to 18,000 |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
WITH ledger AS (
SELECT 1 AS step, 'Start' AS event, 40000 AS market_value, 20000 AS debit_balance, 0 AS sma_entry
UNION ALL
SELECT 2, 'Deposit 5k cash', 40000, 15000, 5000
UNION ALL
SELECT 3, 'Stock gains 8k', 48000, 15000, 4000
UNION ALL
SELECT 4, 'Stock gives 8k back', 40000, 15000, 0
UNION ALL
SELECT 5, 'Buy 12k on margin', 52000, 27000, -6000
)
SELECT
event,
market_value,
debit_balance,
market_value - debit_balance AS equity,
0.50 * market_value AS reg_t_requirement,
market_value - debit_balance - 0.50 * market_value AS margin_excess,
SUM(sma_entry) OVER (ORDER BY step) AS sma,
2 * SUM(sma_entry) OVER (ORDER BY step) AS buying_power
FROM ledger
ORDER BY step
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