Update Query in SQL Server

See more:

SQL-Server-2008R2

I have a table which contains around 2 crore plus records. The table contains 150+ columns as well. Among these 150+ columns i need to update few columns with a value. The new value will be generated from a function by passing the column value as input. Inside the function there will be few lines of code which will return a value based on the input supplied.

Now my question is regarding the approach that needs to be followed to update records with good performance in production.

Option 1: Is it better to write an update query for each column to update at a time( Means if I have 10 columns to update, 10 separate update statements will be written)?

Option 2: In a single update statement all the 10 columns are updated.

Which approach is better, Please give your inputs.
Thanks in Advance.