Margin Calculator
Estimate the margin for F&O futures and the premium outlay for option buying, with lot sizes built in.
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Frequently Asked Questions
How much margin do I need for one Nifty futures lot?+
Index futures margin is roughly 11-14% of the contract's notional value (SPAN + exposure). For one Nifty lot of 65 at ~24,000, notional is about ₹15.6 lakh, so margin is roughly ₹1.7-2.2 lakh. This is an estimate - SPAN changes daily with volatility, so confirm the exact figure on your broker's margin calculator.
What is SPAN and exposure margin?+
SPAN (Standard Portfolio Analysis of Risk) is the exchange-computed worst-case loss on your position under simulated price and volatility moves - it's recalculated daily from NSE Clearing's risk-parameter files. Exposure margin (about 3% of notional) is an additional buffer on top. Total margin = SPAN + exposure.
Do option buyers need margin?+
No. Option buyers pay only the premium upfront - there is no SPAN margin because the most a buyer can lose is the premium. So the margin for buying 2 Nifty lots at ₹120 premium is simply ₹120 × 130 = ₹15,600 (plus brokerage and charges). This figure is exact.
Why does this calculator only estimate futures margin?+
Because exact SPAN margin requires the exchange's daily risk-parameter files, which change every day with market volatility - no static percentage can be exact. This tool uses an indicative percentage you can edit; your broker's own margin calculator reflects the live SPAN files and is always the authoritative number.
Is margin for Bank Nifty higher than Nifty?+
Usually yes, as a percentage of notional, because Bank Nifty is more volatile, so its SPAN worst-case scenarios are wider. A common indicative figure is ~14% for Bank Nifty vs ~12% for Nifty futures - but again, check your broker for the live number.
Does margin change through the day?+
Yes. SPAN parameters are updated by the exchange several times, and brokers may add their own buffers, so your required margin can move intraday - especially on volatile or expiry days. Never size a position assuming the margin stays fixed; keep a cushion.