Hello @nithin
Can you please clarify regarding the margin requirement in NSE Alpha vs Broker based.
Say for naked selling Options Ex Bank Nifty 1 lot.
Margin = SPAN + Exposure
I understand that SPAN is stipulated by Exchange and Exposure is determined by broker.
For NRML , Selling Bank Nifty Option 1 Lot (40units)
SPAN = 25000 * 40 * 3% = 30,000
Exposure = 30,000
Total : 60,000 approx
For Intraday is .4 times of NRML , around 24000 (60000 * .04)
Which is even lesser than SPAN alone.
But why does SPAN margin show differently at around 12000 in the Kite Dashboard for Intraday.
Is SPAN margin for Intraday lower than NRML.
If I become a NSE alpha member , how much fund would I need to place with clearing member to be able to sell 1 lot of Bank Nifty options Intraday. Being a direct member should have some benefit in this regard ?