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F and O Margin Calculator

Calculate SPAN margin & exposure margin for futures and options. See margin for buy & sell positions.

Total Margin Required
₹82,500
Contract Value
₹5,50,000
Margin %
15.0%
SPAN Margin
₹66,000
Exposure Margin
₹16,500

Frequently Asked Questions

What is margin in F&O?

Margin is the collateral required to take a futures or options position. It includes SPAN margin (exchange calculated risk margin) and exposure margin (additional buffer). Typically 10-20% of contract value for futures.

What is SPAN margin?

SPAN (Standard Portfolio Analysis of Risk) margin is calculated by the exchange based on worst-case portfolio loss scenarios. It varies by stock volatility and is updated daily.

What is exposure margin?

Exposure margin is additional margin over SPAN, typically 2-3% of contract value for index futures and 5-10% for stock futures. It acts as a second line of defense for the exchange.

What happens if margin falls short?

You receive a margin call from your broker. If not topped up by the deadline, positions may be squared off. Brokers may charge penalty interest on margin shortfall.

Can I use stocks as margin?

Yes, you can pledge stocks and mutual funds as collateral margin. Brokers accept them at a haircut (10-50% depending on the stock). This is called non-cash margin. At least 50% of margin must be cash/cash equivalent.