@Ananth, something is wrong with the way Mid Cap margin is being calculated. Essentially, your system is letting users take more position than the total margin available, resulting in peak margin charges for you and/or negative EOD margin for us (in case of overnight positions).
EOD yesterday, I had only sold naked Mid Cap puts. But I saw that EOD as well peak margin both are negative in the Margin Statement. Mid Cap ended positive yesterday, so the total margin should have increased, not decreased. Plus, since this is a relatively new index, had left more margin than I normally would.
In this thread and subsequent comments, other users have mentioned about the same issue, again, only for Mid Cap options.
https://twitter.com/sthita1999/status/1686725681978216448
Would suggest you do a Mid Cap short strangle in one of Zerodha’s test accounts, and add the same position in Basket order. There would be substantial difference between the two. The Basket Order shows the actual margin being reported to the exchange.
Hope this is fixed…