Square Off Nifty Option in Loss(?)

Hi Everyone,
I am verymuch new to Options Trading and confused for some of the trading process related to it.

For Example my confusion is :

If I buy 1 lot of OPT-NIFTY-31-Jul-2014-7500-CE @ 190 (190 x 50 + Brokerage) and if tomorrow it goes down to 185 and if I square off my position then I will loose my entire premium paid for this trade ? Or I will have loss of just 5 x 50 + brokerage ? Kindly clarify this.........

Thanks in Advance

Answer in bold...(you will have loss of just 5 x 50 + brokerage )

smart_trade

Thanks a lot for prompt response.

To continue with same and What if I let it expire and at the time of expiry if it is below 190 ? means I want to ask in which scenarios I will loose my entire premium ??

You loose the entire premium plus brokerage if it closes at or even a rupee lower than the strike price which is 7500 in your case....

ST