Hey Quick question, Suppose I hold 200 shares of SBI and I want to short a call option of SBI, will there be requirement for margin? This question arise because the Risk will be zero for brokerage firm(Zerodha in my case) as I already own the stock?
The margins are levied by the Exchange, not by your broker on the basis of your portfolio in the derivative segment. As such, you don’t get any benefit by virtue of holding the underlying stocks in your own demat account.
Even the cross-margining facility as offered by NSE is currently restricted to Stock Futures - Stock positions in the Cash segment.
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Even if it happens in the future, 200 won’t cut it. U need 3000 of them 
Hahaha… yes! Why did not I think about it. 