Margin requirement for stock spread

I have a credit put spread of REC as follows:
Long 135 PE 1 lot NOV expiry
Short 140 PE 1 lot NOV expiry

Please advice regarding the margin requirements for this setup for Tuesday, Wednesday and Thursday.

Regards,
AB

The margin requirement for Short Option position will increase only on expiry day to 40% of the contract value or SPAN + Exposure margin (whichever is higher).

For Long Option position, the margin requirement will increase only if the Option is ITM. This increase is in phased manner from expiry minus four days. Please refer to the below screenshot to know how the margin increases:

You can check out more details here.

Thanks @ShubhS9. In case of a put/call spread am I required to maintain increased margin on both long and short legs of spread? Like 40% on short and 50% on long option thereby total margin for a spread becoming 90%?

Basically my question is if I have 50% of contract value as cash can I carry my spread till 3:00pm on expiry.

@ShubhS9 hi, I am still confused on one aspect. When I take a credit put spread the max loss is defined. In my case the max loss is 18000. The “required margin” for this trade is 1.2L and final margin is 44k. My doubt is, if I am to carry this until expiry day, will my margin increase? If it does up to what level?

Thanks to your earlier reply I understood the matter with naked options. But since spreads have defined risk I am confused, if the margin ends up being 40% of individual contract value or so.

For your reference my spread is REC DEC 130PE Buy and REC DEC 140PE Sell.

Yes the margins will increase even if your position is hedged. Margins are charged separately on all legs of spread contracts. However, you will still continue to receive SPAN margin benefit for the contracts (if any).

So, as explained above:

The margin requirement for Short Option position will increase only on expiry day to 40% of the contract value or SPAN + Exposure margin (whichever is higher).

For Long Option position, the margin requirement will increase only if the Option is ITM. This increase is in phased manner from expiry minus four days.