How to Retrieve the Top Options by Open Interest

The TopOptionsByOpenInterest function in MarketXLS helps you quickly identify and analyze the most liquid or widely-held option contracts (based on open interest) for any given ticker symbol. This function is particularly useful for traders and analysts who want quick data on the most actively-held options in the market, all presented directly in your Excel spreadsheet.

By pulling the top options by open interest, you can see where other market participants are placing their option bets, helping you gauge market sentiment, liquidity, and potential future price movements.

Why Use This Function?

• Get immediate insights into the most heavily held option contracts.
• Identify high-liquidity contracts quickly to avoid large bid-ask spreads.
• Save time by skipping manual data lookups from multiple sources.
• Ideal for research and advanced analytics: combine open interest data with other MarketXLS functions for deeper insights.
• Works seamlessly within Excel, allowing you to sort, filter, and chart your results with standard Excel tools.

How to Use in Excel

=TopOptionsByOpenInterest("Symbol", [NumberOfOptions])

1. In any cell, type =TopOptionsByOpenInterest(.
2. Provide the ticker symbol as the first argument (e.g., "AAPL").
3. Optionally, specify how many results you want. If omitted or set to 0, it defaults to 10.
4. Press Enter. The function fetches your requested data and prints it below the active cell.

Note: Because the function writes multiple rows of data, you might see a confirmation message (depending on your MarketXLS settings) alerting you that cells beneath will be overwritten.

Parameters Explained

Example Usage

Basic Examples

1. Retrieve the default top 10 options by open interest for Apple:
   =TopOptionsByOpenInterest("AAPL")
   ? Displays the top 10 open-interest contracts for AAPL below the formula cell.

2. Fetch the top 5 options for Microsoft:
   =TopOptionsByOpenInterest("MSFT", 5)
   ? Shows only the top 5 lines of open-interest data.

3. Referencing cells:
   Suppose cell A1 contains the symbol "GOOG" and cell B1 contains 15 (the desired number of contracts). In another cell, type:
   =TopOptionsByOpenInterest(A1, B1)
   ? Dynamically retrieves the top 15 options for GOOG.

Advanced Scenarios

• Market Liquidity Analysis: Retrieve data for multiple symbols side by side using references in Excel, then use filters and pivot tables to compare across different ticker symbols.

• Combine with Other Indicators: Pair the open interest data with MarketXLS’s other functions (e.g., historical prices, implied volatility functions) to form more complex trading hypotheses or screening criteria.

• Large Data Pull: If you want more than 10 or 20 rows, supply a larger optional parameter (e.g., 50). This can help advanced users analyze subtle strikes or expiration combinations that also have high open interest.

Common Questions and Troubleshooting

• “No Data Retrieved” – This may occur if the symbol is invalid or there is no options data for the symbol at the moment. Verify that you have typed the symbol correctly.
• “Method is not valid.” – The function might have been used incorrectly. Check the formula syntax and ensure you haven’t entered invalid parameters.
• Overwritten Cells – By default, MarketXLS will print the results below your active cell. Make sure you have enough space or you accept the overwrite prompt.
• License Check – If your MarketXLS license is invalid or expired, you might see a license-related error message. Ensure your subscription is up to date.
• Large Number Requests – Requesting very large numbers of rows can clutter your spreadsheet. Start small (e.g., 10 or 20 records) and increase as needed.

Using the TopOptionsByOpenInterest function helps you focus on the options with the highest open interest, providing a fast and clear view of where the market is most active. With MarketXLS handling the data retrieval, you can concentrate on analysis and decision-making—all directly in Excel.