Open interest analysis for index, commodity and F&O stock option chains
OI Analysis compares outstanding option contracts by strike and expiry, with views for total OI, OI change, PCR and Gamma × OI. It helps distinguish where positions are concentrated from where the latest net changes occurred.
Select the underlying, expiry range and metric, then compare nearby strikes using the same units and observation period. Every open contract has a buyer and seller. OI cannot identify writing or buying intent; Gamma × OI estimates sensitivity under modelling assumptions, not observed hedge trades. Use price, IV and available historical snapshots to investigate the pattern.
What features are available in the OI Analysis tool?
The tool includes symbol selection, expiry date filtering, strike limit adjustments, and multiple analysis types like OI Overall, OI Change, PUT CALL RATIO, and more. You can also view data in lots, customize chart types, and see interactive visualizations of options data.
How frequently is the data updated?
In live mode, our data refreshes every 2 minutes, ensuring you always have access to the most current market conditions.
Can I access historical data?
Yes, you can review historical open interest data using our integrated date picker and backtesting feature for trend analysis and strategy validation.
What is Gamma × OI and why is it important?
Gamma × OI multiplies the gamma value by the open interest at each strike, helping identify potential areas of hedging pressure that might influence the underlying asset's price movement.
How can I interpret the OI change charts?
OI Change charts show the net change in open interest compared to a previous time period. Positive values indicate new positions being opened, while negative values suggest positions being closed. This helps confirm trend strength and market sentiment.
Related JustTicks tools: Multi-Strike OI Chart, OI Dashboard, Option Chain
OI Analysis
Filter Options
NIFTY
Understanding Open Interest Analysis
Open Interest (OI) is the total number of outstanding derivative contracts that have not been settled. Our advanced OI Analysis tool provides comprehensive visualizations that help traders identify potential market moves, liquidity hotspots, and sentiment shifts in the options market.
Key Features of Our OI Analysis Tool
- Multiple Chart Types: View Open Interest, Change in OI, Volume, PCR, and Gamma × OI charts for comprehensive analysis.
- Advanced Time Analysis: Compare OI changes across different timeframes with flexible time range selection.
- Backtesting Capabilities: Analyze historical OI data to validate strategies and understand market patterns.
- Real-time Updates: Stay current with live data refreshed every 2 minutes in Live mode.
- Customizable Display: Toggle between percentage and value views for better data interpretation.
- Cross-Asset Support: Analyze indices like NIFTY, BANKNIFTY, and commodities like GOLD, SILVER, and CRUDEOIL.
How to Use the OI Analysis Tool Effectively
Follow these steps to maximize the benefits of our OI Analysis tool:
- Select your desired symbol and expiry date.
- Set the strike limit to focus on relevant strike prices around ATM.
- Use Live Updates for real-time analysis or enable Backtesting to analyze historical patterns.
- Analyze OI change patterns to identify potential support/resistance levels.
- Compare Put-Call Ratios to gauge market sentiment.
- Examine Volume data alongside OI to confirm trend strength.
- Study Gamma × OI charts to identify potential hedging pressure points.
- Save your preferred strike range settings for quick access in future sessions.
Understanding the Different Analysis Charts
Open Interest (OI) Chart
Shows the current open positions at each strike price. High OI at specific strikes often indicates potential support/resistance levels. These strikes tend to act as magnets, especially near expiry.
Change in Open Interest
Displays how OI has changed over your selected time period. Positive values indicate new positions being opened, while negative values suggest positions being closed. This helps confirm trend strength and market positioning.
Total Traded Volume
Shows the number of contracts traded during the selected period. High volume with increasing OI confirms strong trend continuation, while high volume with decreasing OI might signal a potential reversal.
Put-Call Ratio (PCR)
Calculates the ratio of put OI to call OI. A PCR above 1.0 indicates more puts than calls (potentially bearish sentiment), while values below 1.0 suggest bullish positioning. Extreme PCR values often signal potential reversals due to overly one-sided positioning.
Gamma × OI Chart
Multiplies gamma values by open interest to identify strike prices with significant hedging pressure. Market makers must hedge their gamma exposure, creating buying/selling pressure that can accelerate price movements near high gamma strikes.
OI Analysis FAQ
What features are available in the OI Analysis tool?
The tool includes symbol selection, expiry date filtering, strike limit adjustments, and multiple analysis types like OI Overall, OI Change, PUT CALL RATIO, and more. You can also view data in lots, customize chart types, and see interactive visualizations of options data.
How frequently is the data updated?
In live mode, our data refreshes every 2 minutes, ensuring you always have access to the most current market conditions.
Can I access historical data?
Yes, you can review historical open interest data using our integrated date picker and backtesting feature for trend analysis and strategy validation.
What is Gamma × OI and why is it important?
Gamma × OI multiplies the gamma value by the open interest at each strike, helping identify potential areas of hedging pressure that might influence the underlying asset's price movement.
How can I interpret the OI change charts?
OI Change charts show the net change in open interest compared to a previous time period. Positive values indicate new positions being opened, while negative values suggest positions being closed. This helps confirm trend strength and market sentiment.