Assume I buy Nifty 7250 Calls at Rs.78 and sell Nifty 7200 Calls at Rs.87.
The maximum loss I make on this trade is 41 points.
In such case, why doesn't my broker only block 41*50 = 2050 as margins? Why is the margin as high as 20,000?
WHICH BROKER YOU USE?
Yes once you take both the positions the risk is completely hedged, but assume while exiting you exit long calls first and before you are able to exit the short calls, the market bounces up considerably, what happens now? Similarly while entering assume you short calls first and before you are able to buy the long calls the move happens.
So margins have to consider all such conditions, but once you take a position you do get a margin benefit, so for a bear call spread like what you have given as an example, the margin benefit usually is around 25 to 30%.
You can check this SPAN calculator for more.
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Trading with multiple brokers.