I want to know that if I sell put option BANKNIFTY 32500 (expiry 8th April, 2021) today (7th April, 2021), so I receive (25 x 156 INR) right? And I need to have 1,56,000 INR in my account that will be blocked? Now tomorrow (8th April, 2021) if BANKNIFTY close above 32500 I get all the premium? Second question do I need to let it expire or square off before 3 PM? And how will my margin requirement change during this time that is how much more money I need to keep in my account? And if BANKNIFTY close at 30000 what will be my loss?
As I am beginner, please help me in clarifying the doubts. Thanks