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SPAN Calculator

Exchange:
Product
Future
Select Index
Select Index
Expiry
Select Date
Quantity
Action
Price
Required Margin for This Strategy Summary
  • Span Margin
    ₹0
  • Exposure Margin
    ₹0
  • Margin Benefit
    ₹0
Total Amount Required
₹0

*Margin shown in the calculator is indicative and may vary with volatility or risk policies. Check actual margin on app/web while placing the order.

SymbolExchangeStrikeExpiryOptionNet Qty (in Lots)Price (₹)Span (₹)Exposure (₹)Total (₹)
No data added yet.

SPAN Margin Calculator

Looking to trade in Futures & Options (F&O)? Before you enter the market, it’s crucial to understand how much margin you need to maintain your positions. This is where a SPAN calculator becomes your best friend.

The SPAN margin calculator helps you find out the exact margin required to trade in F&O segments on NSE, based on risk and volatility. It's fast, easy, and removes guesswork so you can focus on smart trading decisions.

Whether you're a beginner or an experienced trader, our margin calculator gives you a clear view of your position-wise SPAN margin requirements.

Open an Account with m.Stock and start trading confidently with real-time margin insights!

What is a SPAN Margin?

SPAN Margin stands for Standard Portfolio Analysis of Risk Margin. It is a system developed by the Chicago Mercantile Exchange and adopted by NSE in India to calculate risk-based margin requirements for derivative positions.

When you trade in the Futures and Options (F&O) segment, exchanges need to ensure there is enough margin in your account to cover any potential loss. That’s where the SPAN margin comes in.

The total margin required to trade in F&O is not just one single component. It typically consists of:

  • SPAN Margin: This is the minimum margin required based on potential risk exposure. It is calculated using a portfolio-based risk assessment model.
  • Exposure Margin: An additional margin levied to provide further safety, regardless of the risk profile of the trade.
  • Premium Margin (for Options Buyers): The premium paid upfront when buying options.
  • Assignment Margin (for Options Sellers): An Additional margin is applied to short positions when options are assigned.

Together, these components form the total margin requirement. A good SPAN margin calculator helps you determine the SPAN as well as other margins needed to place or maintain a trade.

Importance of SPAN Margin

Understanding and calculating the SPAN margin is essential for every F&O trader. Here’s why:

  • Risk Management: The SPAN margin formula is based on a thorough risk evaluation. It takes into account the worst-case market scenario over a single trading day to ensure your trades are covered against potential losses.
  • Capital Planning: Using a SPAN calculator helps you allocate your capital better. You’ll know exactly how much margin is blocked and how much free balance is available.
  • Regulatory Compliance: SEBI mandates margin collection for F&O trades. Using a margin calculator ensures you stay compliant with margin requirements.
  • Avoid Penalties: If your margin falls below the requirement, brokers may square off your position or levy penalties. A SPAN margin calculator helps avoid these risks.
  • Strategic Positioning: With an accurate view of margin requirements, you can adjust your strategy based on cost, exposure, and potential return.

In short, knowing your SPAN margin helps you trade more efficiently, manage risk wisely, and stay within the regulatory framework.

How to use the SPAN Margin Calculator?

Using a SPAN margin calculator is simple and intuitive — even if you’re new to F&O trading. Here's how you can calculate margin with ease:

  • Select the Exchange and Product Type: Choose NSE and whether you're trading in Futures or Options.
  • Enter the Contract Details: Input the symbol (e.g. NIFTY, BANKNIFTY), the expiry date, lot size, and quantity.
  • Specify the Position: Choose whether you're buying or selling, and if it’s a Call or Put option (for Options) or a Long/Short Futures position.
  • Click on Calculate: The SPAN calculator will instantly show you the SPAN margin, exposure margin, and total margin required.
  • Analyse Results: The results will help you understand how much margin your trade will consume. This helps you plan your trades and funds in advance.

Whether you’re placing a single leg position or a complex spread, m.Stock’s SPAN margin calculator will compute the margin requirement accurately.

SPAN Margin Calculation Example

Let’s walk through a simple example to understand how SPAN margin is calculated:

Scenario: You want to sell one lot of NIFTY 50 Call Option at a strike price of ₹ 18,000, with expiry in one month. Each lot contains 50 units.


Step-by-step Breakdown:

  • 1

    Underlying
    NIFTY 50

  • 2

    Action
    Sell Call Option

  • 3

    Strike Price
    ₹18,000

  • 4

    Lot Size
    50

  • 5

    Position Size
    1 lot

Assume the following values:

  • ~15% of contract value
    18,000
  • x
  • 50
    (varies by exchange and volatility)
  • =
  • SPAN Margin
  • ~3% of contract value
    18,000
  • x
  • 50
    (varies by exchange and volatility)
  • =
  • Exposure Margin
  • SPAN Margin
    ₹1,35,000
  • +
  • Exposure Margin
    ₹27,000
  • =
  • Total Margin Required
    ₹1,62,000

This means you need ₹1,62,000 in your trading account to carry this short call position.
Remember, this is a simplified example. The actual SPAN margin is calculated using complex algorithms that consider volatility, interest rate, and risk scenarios—but the SPAN calculator does all the heavy lifting for you!

Why use m.Stock SPAN Margin Calculator

At m.Stock, we understand that precision and speed matter when you’re trading in F&O. That’s why our SPAN margin calculator is built to offer maximum accuracy and convenience. Here’s why it stands out:

  • Real-Time Data: Our calculator is synced with NSE SPAN files, ensuring your margin calculations are always up-to-date.
  • Covers All Segments: Whether it’s Index Futures, Stock Futures, or Options—our SPAN calculator handles it all.
  • Complete Margin Breakdown: See not just the SPAN margin but also the exposure margin and total margin — all in one place.
  • Beginner Friendly: Even if you’re new to trading, our intuitive interface ensures you can use the margin calculator easily without needing financial expertise.
  • Helps With Strategy Planning: Considering multiple trades? The SPAN margin calculator supports portfolio-level margin evaluation to help you choose the most margin-efficient strategy.
  • Available 24/7: Access it anytime on desktop or mobile and get accurate SPAN margin info before placing any trade.

With m.Stock, you also get ultra-low brokerage rates, seamless account setup, and lightning-fast execution — making us the ideal partner for your F&O trading journey.

FAQs

What is SPAN margin vs exposure margin?

SPAN margin is the minimum margin required based on the maximum potential loss in volatile market conditions. The exposure margin is an additional buffer mandated by the exchange to cover unexpected market moves. Together, they form the total margin required for F&O trades.

What Are Compound Interest Investments?

Compound interest investments generate returns not only on the principal amount but also on the accumulated interest over time. While unrelated to margin trading, understanding compounding is essential in long-term investing, especially in instruments like FDs, mutual funds, and PPF.

Can SPAN margins change during the day?

Yes, SPAN margins can change intraday based on market volatility, liquidity, and price fluctuations. Exchanges update SPAN files regularly, and brokers adjust margin requirements accordingly. Using a real-time SPAN margin calculator ensures you're always aware of the latest margin requirements.

Do different brokers offer different margins?

While SPAN and exposure margins are defined by the exchange, brokers may apply additional risk-based margins. However, the base SPAN margin is uniform across brokers. Differences in total margin usually result from a broker’s internal policies or client-specific risk assessment.

Is the margin different for intraday vs delivery?

Yes, intraday trading often requires a lower margin due to reduced risk and limited holding time. Delivery-based trades require full SPAN and exposure margins since positions are carried forward overnight, increasing potential risk. Many brokers offer margin benefits for intraday traders.
Note : Securities shown above are only for illustrative purposes and not recommendatory in nature. The data represents best/cumulative figures till date.