Average Volume to Open Interest Ratio
Returns the average daily Vol/OI ratio for options on an underlying stock over a specified number of trading days. This helps establish a baseline for typical options activity.
Parameters
| Parameter | Required | Description |
|---|---|---|
| Underlying | Yes | Stock ticker symbol (e.g., AAPL, MSFT) |
| Days | Yes | Number of trading days to average |
| OptionType | No | Filter by Call, Put, or All (default: All) |
Use Cases
- Establish baseline Vol/OI for comparison
- Identify when current Vol/OI is unusually high or low
- Track changes in options activity trends
- Compare typical activity levels across stocks
Notes
- Compare current Vol/OI with average to spot unusual activity
- Higher averages indicate more actively traded options
- Useful for building alerts when Vol/OI exceeds historical average
Syntax
=opt_Vol_OI_Avg(Underlying, Days, [OptionType])Examples
=opt_Vol_OI_Avg("AAPL", 5)=opt_Vol_OI_Avg("MSFT", 10, "Call")=opt_Vol_OI_Avg("SPY", 20, "Put")=opt_Vol_OI_Avg(A1, 30)=opt_Vol_OI("AAPL")/opt_Vol_OI_Avg("AAPL",20)When to Use
- Establish Vol/OI baseline for a stock
- Compare current activity to historical average
- Screen for stocks with unusual activity
- Build Vol/OI-based trading signals
- Track changes in options market participation
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need today's Vol/OI only | opt_Vol_OI() |
| Need Vol/OI on specific date | opt_Vol_OI_Historical() |
| Need just volume average | opt_VolumeOptionsAverage() |
| Need just open interest | opt_OpenInterestOptions() |
Common Issues & FAQ
How do I identify unusual Vol/OI?
Compare current Vol/OI to the average: =opt_Vol_OI("AAPL")/opt_Vol_OI_Avg("AAPL",20). Values significantly above 1 indicate unusual activity.
What number of days should I use?
Common periods are 5 days (1 week), 20 days (1 month), or 60 days (3 months). Shorter periods capture recent trends; longer periods provide more stable baselines.
Why might the average vary significantly?
Earnings announcements, product launches, or other catalysts can cause temporary spikes that affect the average.
Excel Templates Using Average Vol/OI Ratio
These ready-made MarketXLS templates call opt_Vol_OI_Avg() in their worksheet formulas. Open one to see the function working inside a complete model.
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