Do audit is required for f&o ( options trade ) ??

This is not the way turnover is calculated in case of Derivatives.
The sum of the Losses incurred ( ignore negative sign) and profit earned on all the transactions is the turnover in case of Derivatives.

Like if you have loss in 1 derivative txn of Rs -20 and there is gain of Rs 15 in 1 txn then
Turnover = 20 + 15 = 35
profit. = -20 +15 = -5

Still Questions remains the same same need audit ?

As per sec. 44AD(5) of IT act, if your net income is above basic exemption limit, tax audit will be mandatory.

As per section 44AB, if turnover exceeds 1 crore then Tax audit is necessary.

the turnover is to be calculated as under:

 

1. Sell side of Options Plus

2. Absolute value of all profits and losses.

This should ideally lead to a much larger turnover in your case. Once you cross 1 cr turnover but still below 2 cr, the only option for avoiding audit is to declare presumptive profit under 44AD. So ideally go for the audit regardless of any other opinion as it would cost much less than presumptive profit taxation.