Calculate Total Options Open Interest with opt_TotalOpenInterestOptions
The opt_TotalOpenInterestOptions function helps you retrieve the total open interest of options for a specified underlying stock or index directly within Excel. By allowing filters for option type, expiration date, and strike (or strike range), it offers flexible ways to gather precise open interest data—an essential metric for trading analytics.
Why Use This Function?
- Quickly obtain overall or filtered open interest for selected underlyings.
- Helps gauge market sentiment—high open interest often indicates active interest in specific strikes.
- Filter by call or put to separate bullish and bearish activity.
- Narrow results by strike prices (or strike percentages) and expiration dates as needed.
- Saves time by automating data retrieval within Excel.
- Ideal for building trading strategies, analyzing market liquidity, or spotting unusual option volume.
How to Use in Excel
=opt_TotalOpenInterestOptions( Underlying, [OptionType], [ExpirationDate], [Strike] )- In an Excel cell, type “=opt_TotalOpenInterestOptions(” and fill in the required “Underlying.”
- Optionally specify “OptionType” (CALL or PUT), “ExpirationDate” (in valid date format), and “Strike” (either a specific price or a ratio if less than 1).
- Press Enter to see the total open interest returned.
Parameters Explained
| Parameter | Description | Example Values | Notes |
|---|---|---|---|
| Underlying | The symbol (stock or index) for which you want the options data. | "AAPL", "^SPX" | Can be a ticker like "AAPL" or certain indexes like "^SPX". If the symbol is one of "^SPX", "^NDX", "^VIX", or "^XSP", the function removes "^" internally so data can be processed. |
| OptionType | The type of option: "CALL" or "PUT". | "CALL", "PUT", or "" (blank) | If blank (or "0"), pulls total open interest across both calls and puts. |
| ExpirationDate | The date of option expiration, in standard date format. | "03/17/2023" or cell formatted as date | If left blank (or passed as "0"), returns open interest for all expiration dates. Internally, the function converts the date to "YYYY-MM-DD" format before requesting data. |
| Strike | The strike price used to filter options. | "150", "1.05", "0.05" | If set to "0" or blank, retrieves open interest across all strikes. If your value is less than 1 (e.g., 0.05), the function calculates a range around the underlying’s current price (±5% in this example). If your value is ?1, that specific price (or a single strike range) is used. |
Example Usage
Basic Examples
-
Total Open Interest for All Options on AAPL:
=opt_TotalOpenInterestOptions("AAPL")
Returns the sum of open interest for all Apple options, regardless of call/put, strike, or expiration. -
Only Call Options, No Specific Date:
=opt_TotalOpenInterestOptions("AAPL","CALL")
Filters for all calls. Puts and combined options are excluded. -
Selecting a Specific Expiration:
=opt_TotalOpenInterestOptions("AAPL","","03/17/2023")
Retrieves the total open interest for Apple options expiring on March 17, 2023 (both puts and calls).
Advanced Scenarios
-
Filtering by Strike Range (Single Price):
=opt_TotalOpenInterestOptions("AAPL","CALL","03/17/2023","150")
Returns the total open interest for AAPL call options expiring on March 17, 2023, at strike ± 0 (meaning exactly 150). -
Filtering by Strike Percentage (± certain %):
=opt_TotalOpenInterestOptions("AAPL","","03/17/2023","0.10")
If AAPL’s current price is 140, the function automatically checks for strikes between 126 (–10%) and 154 (+10%). Summation of open interest for all calls and puts within that range is returned. -
Getting All Expiration Dates but Only Put Options in a Range:
=opt_TotalOpenInterestOptions("TSLA","PUT","0","0.05")
Retrieves open interest for TSLA puts, from –5% to +5% around the current underlying price, across all expiration dates.
Combine these approaches with other Excel tools, such as pivot tables or advanced referencing, to generate even deeper analytics.
Common Questions and Troubleshooting
-
Q: Why am I getting “NA” as a result?
A: An “NA” can appear if MarketXLS couldn't process your inputs (e.g., invalid date format) or if there’s a service issue retrieving data. -
Q: What if my expiration date is in a different format?
A: Ensure your cell date is formatted properly in Excel or pass a valid date string recognized by your locale. The function converts “MM/DD/YYYY” or a recognized date. -
Q: My function returns a string like “Call/Put flag has invalid format…”
A: Make sure to specify “CALL” or “PUT” exactly. An unrecognized value will result in an error message. -
Q: How do I include multiple strikes or a wide strike range?
A: If you want a wide band of strikes, consider passing a decimal “Strike” representing a large percentage around your underlying’s current price, e.g., 0.20 for ±20%.
Remember:
- Use correct option type values—for instance, “CALL” or “PUT.”
- Confirmation of subscription (license) is required, or the function may simply return error messages.
- Thoroughly test your input parameters to ensure they suit your trading needs and data references in Excel.
- MarketXLS seamlessly integrates real US market data, enabling powerful analysis with minimal setup.
Get Access to 1 Billion Usable Market data points IN YOUR EXCEL SHEETS WITH EASY TO USE EXCEL FUNCTIONS
Get started today