For Intraday:- Maximum intraday exposure in the derivative segment will be restricted to 1X.
Hedge Margin Trades: Customers used to enjoy the benefit of margin if the trades are hedged. Now, however, if clients square off the hedge position then it is important to square off the leg of the transaction which has a higher margin requirement first. If this sequence is not followed, your peak margin requirement may shoot up and if sufficient margin is not available, it may lead to a penalty that has to be borne by you. Let me explain with an example. You have only Rs.50,000 as the available margin. Now you buy 1 Lot of NIFTY 13,000 CE @ Rs.20 and then sell 1 lot of NIFTY 13,200 CE, then margin requirement for 13,200 NIFTY CE will only be approx. Rs.25,000 – Rs.30,000. Now your square off NIFTY 13,000 CE, and the margin requirement for NIFTY 13,200 CE will increase to Rs.1,35,000. Since you only have Rs.50,000 as margin this will lead to a shortfall and attract a penalty.
Increase in exchange margin during the day:- Exchange updated 6 span files during the day and margin can increase according to these span files in case there is volatility. If you do not have sufficient margin according to the latest exchange span file, there can be a peak margin penalty that has to be borne by you.