MarketXLS

Put/Call Open Interest Ratio

Returns the ratio of put open interest to call open interest. Unlike volume ratio (daily activity), OI ratio reflects accumulated positioning.

Parameters

Parameter Required Description
Underlying Yes Stock ticker symbol
ExpirationDate No Specific expiry or all

OI Ratio vs Volume Ratio

Metric Measures Timeframe
Volume Ratio Daily trading activity Intraday
OI Ratio Accumulated positions Long-term

Syntax

=opt_PutCallOIRatio(Underlying, [ExpirationDate])
Excel Desktop (Windows)

Parameters

underlyingstringRequired
expirationDatedate

Returns

number

Put/Call open interest ratio

Examples

=opt_PutCallOIRatio("AAPL")
All expirations OI ratio
=opt_PutCallOIRatio("SPY", "2024-01-19")
Specific expiry OI ratio

When to Use

  • Long-term positioning analysis
  • Sentiment from accumulated positions
  • Support/resistance identification
  • Hedging activity analysis

When NOT to Use

Scenario Use Instead
Need volume ratio opt_PutCallVolRatio()
Need historical ratio opt_PutCallOIRatioHistorical()
Need raw OI opt_TotalOpenInterestOptions()

Common Issues & FAQ

Why is OI ratio more stable than volume ratio?

OI represents accumulated positions over time, while volume resets daily. OI provides a more stable long-term view.

Excel Templates Using OI Ratio (Options)

These ready-made MarketXLS templates call opt_PutCallOIRatio() in their worksheet formulas. Open one to see the function working inside a complete model.

Related Formulas

More MarketXLS Options formulas you can use in the same worksheet:

See opt_PutCallOIRatio used in a complete workbook: MCP Options Order Flow Server: Read Options Flow in Claude and Excel (2026)

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MarketXLS Excel Add-in Tutorial - How to Use OI Ratio (Options) and Other Financial Formulas
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