HDFC Securities Options Trading Questions

Hi guys,

A few questions I am trying to clearly understand for trading options with HDFC. I am new to options trading so please have patience and explain as simply as possibly for me.

1) Fees
Here is what I have been able to gather so far for selling puts or calls the fees are as follows

A) Each lot of 25 will cost me Rs 100 in Brokerage Fees + 14% Service tax on Brokerage Fee= Rs 114
B) In addition to the above there are small charges for taxes based on transaction value.

Question I have is firstly if I know decide to buy back do I once again pay the Rs 114 that I paid on writing the contracts?

2) Squaring off at expiry
Is it advisable to buy back the options I wrote before expiry or if they are expiring worthless can I just let them expire? Is there any difference in fees if they expire on their own vs force closing position buy buying back?

3) Net Liquidation Value Help
I reviewed a consolidated statement today and found the following info which I want to make sure I fully understand:

Total Account Equity = Rs 2 Lakh )This is the margin that has been held for my positions
Short Option Value = -Rs43 Lakh
NLV = -Rs 41 Lakh

Now reviewing this info in isolation made me feel pretty panicky but I know that all my positions are in the green and not in any risk (far out of the money positions written). I just want to make sure I understand how to interpret the NLV noted above.

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