Query in premium received?

Assume I did 20 lots of Nifty short straddle. Margin deployed is around 35 lakhs .Premium received combined is about 300 rupees per lot. That comes to about 4.5Lakhs in premium received. Can I do following with the premium received

  1. Take addition 2-3 lots of short straddle or any other strategy with that 4.5 lakhs ? ( Use that as margin money for other Futures as well as options ?)
  2. Can I do intraday equity ?
  3. Buy some stocks in CNC ?
    I have gone through some modules and other books, but still seek clarity in this.

On the day you’ve shorted options, the option premium can only be used to buy options. From the next day onwards, you can use it wherever you want to.

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@ShubhS9 Can i transfer that to my bank account ?

you can… after the premium you got is settled on t+1 day you can do whatever you want… are you new to options?