MarketXLS

Options Change in OI Leaders

Identifies stocks with the largest percentage change in options open interest. This indicates where new positions are being opened or closed.

Parameters

Parameter Required Description
NumberOfRecords Yes Number of results to return
Country No Country filter (default: US)
InstrumentType No All, Stock, or ETF (default: All)

What This Measures

  • Percentage change in open interest
  • Identifies new position building
  • Shows where commitment is increasing/decreasing

OI vs Volume

Metric Meaning
High Volume + OI Increase New positions being opened
High Volume + OI Decrease Positions being closed
OI Change Net new commitment to the market

Notes

  • OI updates overnight, not intraday
  • Increasing OI = new money entering market
  • Decreasing OI = positions being closed

Syntax

=opt_OptionsChangeInOILeaders(NumberOfRecords, [Country], [InstrumentType])
Excel Desktop (Windows)

Parameters

numberOfRecordsnumberRequired
countrystring
instrumentTypestring

Returns

array

Array of stocks with largest change in open interest

Examples

=opt_OptionsChangeInOILeaders(10)
Top 10 OI change leaders
=opt_OptionsChangeInOILeaders(5, "US", "Stock")
Stocks only
=opt_OptionsChangeInOILeaders(5, "US", "ETF")
ETFs only
=opt_OptionsChangeInOILeaders(20)
Top 20 results

When to Use

  • Find where new positions are being built
  • Identify commitment to specific strikes/expirations
  • Screen for building momentum
  • Monitor institutional positioning
  • Track options market conviction

When NOT to Use

Scenario Use Instead
Need absolute OI leaders opt_OptionsOILeaders()
Need volume change leaders opt_OptionsChangeInVolumeLeaders()
Need unusual activity opt_UnusualStockOptionsActivity()
Need volume leaders opt_OptionsVolumeLeaders()

Common Issues & FAQ

How is this different from volume change?

Volume is trading activity. OI change shows net new positions. High volume with no OI change means positions are just changing hands.

When does OI update?

Open interest updates overnight and reflects the previous day's close.

What does large OI increase indicate?

Large OI increases suggest new money and conviction entering the market at those strikes.

Excel Templates Using Options Change in OI Leaders

These ready-made MarketXLS templates call opt_OptionsChangeInOILeaders() 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:

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MarketXLS Excel Add-in Tutorial - How to Use Options Change in OI Leaders and Other Financial Formulas
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