Short Strangle margin requirement and long-term pivot forecast 1st half 2012

After shorting the Jun 29 2012 call:

After shorting the Mar 30 2012 put:

The short strangle generated $2.75.  I will profit if SPY is not lower than 109.25 by Mar 30, 2012.  My Feb put spread and Mar put spread will provide another $1+$1-$0.5 = $1.5 cushion, which brings down the BE (breakeven price) to 107.75.  There will be $0.65 dividend by Mar 30, which further brings down the BE to be 107.15.