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Margin buying power for cash securities/options
Margin Buying Power for Cash Securities/Options is the amount of funds available for purchasing cash securities (non-marginable securities) or options. Any portion of this amount above and beyond your Cash Available for Investment will create a margin loan. You will be charged interest for this portion that you have borrowed from E*TRADE.

Margin Buying Power -- Cash Securities/Options is based on the previous day's closing prices and is reduced by any open orders. The value is reduced or increased as soon as the trade executes, not when the trade settles. All buy trades are debited (subtracted) and all sell trades are credited (added). The values from non-trading activity, such as withdrawals will impact the margin buying power.

Note:
For pattern day traders, this is the amount available for holding cash securities or options overnight without creating a Fed Call.

Source: E*TRADE FINANCIAL
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