Total Open Interest
Returns the total options open interest for an underlying stock. Open interest represents the total number of outstanding option contracts.
Parameters
| Parameter | Required | Default | Description |
|---|---|---|---|
| Underlying | Yes | - | Stock ticker symbol |
| OptionType | No | all | 'all', 'call', or 'put' |
| ExpirationDate | No | all | Specific date or 'all' |
| Strike | No | all | Specific strike or blank |
Understanding Open Interest
- OI = total outstanding contracts
- High OI indicates significant market positioning
- OI accumulates over time
- OI decreases when positions are closed
Notes
- Open interest is updated end of day by OCC
- OI can indicate support/resistance levels
- Large OI at strikes = market maker hedging activity
Examples
=opt_TotalOpenInterestOptions("AAPL")=opt_TotalOpenInterestOptions("AAPL", "call")=opt_TotalOpenInterestOptions("AAPL", "put")=opt_TotalOpenInterestOptions("SPY", "all", "2024-01-19")=opt_TotalOpenInterestOptions("TSLA", "call", "all", 250)When to Use
- Analyzing market positioning
- Identifying support/resistance from options
- Measuring overall options market interest
- Comparing call vs put positioning
- Analyzing OI by expiration
When NOT to Use
Common Issues & FAQ
Q: Why is OI different from volume? A: Volume = contracts traded today (resets daily). OI = total outstanding contracts (accumulates over time).
Q: When is OI updated? A: Open interest is calculated and published by the OCC at end of each trading day.
Q: How do I use OI for support/resistance? A: Large put OI at a strike can act as support. Large call OI at a strike can act as resistance.
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