Delivery margin for stock option strategies

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Stock options in the last week

Margin for Short Option position will increase only on expiry day to 40% of the contract value or SPAN + Exposure margin (whichever is higher). If you’re holding Long Options, then the margin requirment will depend on whether the Option is OTM or ITM. For Long OTM Options there isn’t any additional margin requirement. However, for Long ITM Options, exchange blocks physical delivery margin from expiry minus 4 days. This support article explains it in detail.