Margin Calculator
Calculate margin required for intraday and F&O trades.
Instrument type
Results
Total margin required
₹80,000
Contract / lot value
₹5.00 L
SPAN margin
₹60.0K
Exposure margin
₹20.0K
Margin as % of contract
16.0%
Effective leverage
6.3x
Note
Margin requirements change daily based on NSE/BSE circulars and market volatility. Always check your broker's margin calculator for the latest requirements before trading.
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How is margin calculated for F&O trading in India?
In India, margin for F&O (Futures and Options) trading is calculated using SPAN (Standard Portfolio Analysis of Risk) and Exposure margins as prescribed by NSE and BSE. SPAN margin is the minimum risk-based margin computed by the exchange based on worst-case scenarios. Exposure margin is an additional buffer collected by the exchange on top of SPAN to cover residual risk. For equity futures, total margin typically ranges from 12%–25% of the contract value.
For intraday equity trading (MIS — Margin Intraday Square-off), brokers offer leverage ranging from 3x to 10x depending on the stock category and broker policy. SEBI has tightened intraday leverage norms significantly since 2020 — the peak margin rule now requires that actual upfront margin (SPAN + Exposure) must be available in your account before taking positions. Any shortfall attracts a penalty.
Options sellers face the same margin requirements as futures traders. Options buyers only pay the premium, but sellers must maintain full SPAN + Exposure margin. Margin requirements increase when you hold positions overnight (NRML positions) vs intraday. For Nifty futures, the typical margin requirement is ₹80,000–₹1.5 lakh per lot depending on index levels and volatility.