Estimate the margin to sell Nifty or Bank Nifty options, trade futures, or hedge a position with a spread, per lot, and see how much a hedge saves. Buying options needs no margin, only the premium.
Enter the details above to estimate the margin.
Estimates use normal-volatility SPAN and exposure rates, last reviewed 1 September 2026. Trading costs are separate, see the brokerage calculator.
As a rough estimate, selling one lot of Nifty options blocks around 8 to 9 percent of the contract value as SPAN plus exposure margin. With Nifty near 24,850 and a lot of 65, that is roughly ₹1.2 to ₹1.5 lakh per lot. The exact figure is set by the exchange and changes daily with volatility, so always confirm with your broker.
SPAN margin covers the worst-case one-day loss the exchange models for your position. Exposure margin is an additional buffer on top. Together they are the total margin a broker blocks to let you carry a short option or a futures position.
No. Buying an option only costs the premium, and that premium is your maximum loss, so there is no SPAN or exposure margin. Margin applies when you sell/write options or trade futures.
A hedge, buying a further option against the one you sold, caps your maximum loss, so the exchange blocks roughly that capped loss instead of the full naked margin. A Nifty spread 200 points wide might block around ₹13,000 versus roughly ₹1.4 lakh naked, a large reduction. It is still an estimate, so confirm the exact figure with your broker.
No. This is an educational estimate using simplified, normal-volatility rates. Real SPAN margins are recalculated by the exchange several times a day and rise sharply near events and in volatile markets. Use your broker's official margin calculator before placing a trade.