How can we help you?

You get an extra margin call for short index options (like Nifty or Bank Nifty) because exchanges impose an additional Exposure Loss Margin (ELM) a day before expiry. This is a regulatory requirement to cover increased risk as the contract nears settlement. If you fail to maintain sufficient funds for this ELM, it creates a margin shortfall, leading to a margin penalty and your positions being auto-squared off by your broker.

Bottom line: The extra margin call is a standard regulatory step to manage risk on short index options as they approach expiry.