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OCC (Option Clearing Corporation) is the common clearing house of U.S. stock option exchanges. The formula for margins required by OCC exchanges is basically the following:

MARGIN = 20 % of the current value of the underlying stock  
         PLUS   100 % of the premium                               
         MINUS  the amount the option is out-of-the-money 
Nevertheless, individual brokers may apply higher margin requirements based on different formulae.