Options OI Leaders
Returns the stocks and ETFs with the highest absolute options open interest. Open interest represents the total number of outstanding option contracts.
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
- Total outstanding option contracts
- Combined calls and puts
- Represents total market commitment
Understanding Open Interest
| Metric | Meaning |
|---|---|
| High OI | Large positions/hedging activity |
| OI at specific strikes | Support/resistance levels |
| OI changes | New money entering/exiting |
Notes
- OI updates overnight (not intraday)
- High OI often indicates institutional involvement
- Can indicate key support/resistance levels
Examples
=opt_OptionsOILeaders(10)=opt_OptionsOILeaders(5, "US", "Stock")=opt_OptionsOILeaders(5, "US", "ETF")=opt_OptionsOILeaders(20)When to Use
- Find options with most outstanding contracts
- Identify key levels with high OI
- Screen for institutional participation
- Analyze market positioning
- Find liquid options markets
When NOT to Use
Common Issues & FAQ
Q: Why is OI different from volume? A: Volume is trading activity for the day. OI is the total number of contracts that exist and haven't been closed.
Q: What does high OI at a strike mean? A: High OI at specific strikes often represents support/resistance levels or large hedging positions.
Q: When does OI update? A: Open interest updates overnight and reflects the previous day's closing positions.
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