What is SPAN Margin Calculator?
Calculate SPAN and exposure margin required for Nifty, Bank Nifty, and stock F&O positions on NSE Simply enter your values, and the calculator instantly computes accurate results using standard financial formulas. All calculations are performed entirely in your browser — nothing is stored or transmitted.
Formula Used
SPAN (Standard Portfolio Analysis of Risk) uses a scenario-based approach to calculate margin. Exposure margin is an additional safety margin. Combined, they represent the total margin required to initiate an F&O position.
How to Use This Calculator
- Select the underlying (Nifty, Bank Nifty, stock name)
- Select contract type (futures or options)
- For options: select call or put and strike price
- Enter number of lots
- Click Calculate to see approximate SPAN, exposure, and total margin required
Worked Example
Nifty 22000 Futures | 1 lot (50 units) | Contract Value: ₹11L | SPAN: ~₹90,000 | Exposure: ~₹55,000 | Total Margin: ~₹1,45,000
Why Use This Tool?
- Know margin requirement before placing F&O orders
- Plan capital allocation across multiple F&O positions
- Understand margin differences between futures and options selling
- Avoid margin call situations by pre-checking requirements
Frequently Asked Questions
What is SPAN margin?
SPAN (Standard Portfolio Analysis of Risk) is a risk-based margin calculation system used by exchanges worldwide. It calculates the maximum possible loss on a portfolio over a single trading day under worst-case scenarios across 16 price/volatility scenarios. NSE and BSE use VSPAN.
What is exposure margin?
Exposure margin is an additional margin levied over SPAN margin to account for mark-to-market losses and extreme market movements. For equity futures, NSE charges 3% of the contract value as exposure margin. For options, it varies by moneyness.
What happens if my account falls below margin?
If your account falls below the required margin, your broker sends a margin call — you must add funds or your positions will be squared off (auto-closed). Brokers like Zerodha auto-square off positions at 40-50% of margin utilization to protect against losses.
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