Is there any Margin payable in Options?

In equities and futures, margin is used as leverage to increase purchasing power, while option margin is used as collateral to secure a position.

If you buy an option contract, you do not have to pay a margin because your loss is limited. You must pay a premium amount. Your loss is limited to the value of the premium.

If you sell an option contract, you must pay a margin because there is a risk of unlimited loss and limited gain. You must therefore pay the margin set by the exchange.