Futures accounts are marked to market daily. When losses push the balance below the maintenance margin, the broker issues a margin call to bring it back up to the initial margin – or closes the position.
How to use the Margin Call Calculator
- Initial deposit
- Initial margin per contract
- Maintenance margin per contract
- Number of contracts
- Direction
- Futures contract
- Custom point value
- Entry price
- Current price
Results update as you type, and every field accepts the units shown in its menu.
How it works
Enter your initial deposit, the margin requirements, contracts, direction, point value and the entry and current prices.
Tips
- Use annualised volatility and interest rates as decimals per year.
- Remember that one standard option contract usually covers 100 shares.
- Options lose time value as expiry approaches – re-run the numbers as dates change.
- Derivatives can lose more than you expect; understand the maximum loss before trading.
Common mistakes to avoid
- Mixing days and years for time to expiry.
- Ignoring commissions and the bid–ask spread.
- Forgetting dividends when pricing options on dividend-paying stocks.
Inputs explained
| Field | What to enter |
|---|---|
| Initial deposit | Amount in your currency |
| Initial margin per contract | Amount in your currency |
| Maintenance margin per contract | Amount in your currency |
| Number of contracts | A number |
| Direction | Choose one: Long, Short |
| Futures contract | Choose one: Micro E-mini S&P 500 (MES) – $5/point, E-mini S&P 500 (ES) – $50/point, Micro E-mini Nasdaq-100 (MNQ) – $2/point, E-mini Nasdaq-100 (NQ) – $20/point … |
| Custom point value | Amount in your currency |
| Entry price | A number |
| Current price | A number |
What each result means
- Profit or loss = [Direction]×([Current price] – [Entry price])×[Point value]×[Number of contracts]
- Total initial margin required = [Initial margin per contract]×[Number of contracts]
- Total maintenance margin = [Maintenance margin per contract]×[Number of contracts]
- Current account balance = [Initial deposit] + [Profit or loss]
- Price that triggers a margin call = [Entry price] – [Direction]×([Initial deposit] – [Total maintenance margin])÷([Point value]×[Number of contracts])
Formula
Total initial margin = initial margin × contracts; total maintenance margin = maintenance × contractsAccount balance = deposit + P/LMargin call if balance < total maintenance margin → deposit needed = total initial margin − balanceWorked example
Inputs — Initial deposit: $3,000; Initial margin per contract: $1,400; Maintenance margin per contract: $1,270; Number of contracts: 2; Direction: Long; Futures contract: Micro E-mini S&P 500 (MES) – $5/point; Custom point value: $10; Entry price: 5,800; Current price: 5,765.
Results — Profit or loss = $-350.00; Total initial margin required = $2,800.00; Total maintenance margin = $2,540.00; Current account balance = $2,650.00; Margin call? = No; Extra cash required = $0.00; Price that triggers a margin call = 5,754.
Frequently asked questions
What is a margin call?
A demand to add funds when your account falls below the maintenance margin.
How much must I deposit?
Enough to restore the account to the initial margin level.
What happens if I don't meet it?
The broker can close your positions.
What formula does the Margin Call Calculator use?
Total initial margin = initial margin × contracts; total maintenance margin = maintenance × contracts.