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F&O Margin Calculator

Margin required to trade futures or options (SPAN + exposure).

Enter values to see your result

Frequently asked questions

SPAN vs Exposure margin?

SPAN (Standard Portfolio Analysis of Risk) covers worst-case intraday loss. Exposure covers additional risk buffer. Total = SPAN + Exposure.

Does options buying need margin?

No — only the premium. Only options SELLERS need margin (because of unlimited loss potential).

Intraday margin savings?

Brokers offer 3–5x margin for intraday F&O (MIS). Positions auto-square by 3:20 pm. Overnight requires full margin.

Hedge margin benefit?

Hedged positions (spreads, covered calls) require much less margin than naked positions. SEBI phased in "new margin" rules in 2020.