Why did I receive this margin call?

1)I had bought HDFC Bank 1540 CE Monthly Expiry NRML Order and paid full premium. Why did I receive this margin call when I hadn’t used any margin at all…That too when my option was ITM ?

“EQ margin utilisation for AS**** has reached 2616.08% of available balance. Add funds immediately on https://zrd.sh/funds. Positions can be squared off if margins are insufficient. -ZERODHA”

  1. Stock NRML positions are not charged any brokerage. Do F&O NRML charged or are they also brokerage free ?
  1. This is because of Physical settlement.

  2. Stock Investments are free. It’s CNC and not NRML.

For FNO positions irrespective of product type ( MIS or NRML) Brokerage of 20rs will be charged per order.

I squared odd my position today. I would like to know what would have happened had I still held position say…till 3 PM on Thursday 26th Aug The Expiry Day?

It’s explained here.

In simple language…does it imply that I should close my ITM position becore the trading session ends on the expiry day?

You need to maintain applicable margins for the day. This will be applicable from the expiry week. If you have margins then you can either choose to close the position before expiry or take physical delivery.

Applicable Margins.


If you don’t have the required margins then the positions will be squared off as per the policy.

During the expiry week, you will be alerted on the order window about the same. You can watch out for such nudge messages to avoid such risks.