Open Interest Exposure Profile
Net Open Interest
Put & Call Open Interest
Expiration Summary Table
| Expiration Date | DTE | Put Vol | Call Vol | Total Vol | Put/Call Vol | Put OI | Call OI | Total OI | Put/Call OI | Implied Volatility |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-11-21 | 6 | 254486 | 525328 | 779814 | 0.48 | 638798 | 1060915 | 1699713 | 0.6 | 70.51% |
| 2025-11-28 | 13 | 44532 | 83733 | 128265 | 0.53 | 108151 | 232311 | 340462 | 0.47 | 59.38% |
| 2025-12-05 | 20 | 9704 | 72958 | 82662 | 0.13 | 54262 | 84954 | 139216 | 0.64 | 55.09% |
| 2025-12-12 | 27 | 12200 | 22369 | 34569 | 0.55 | 31163 | 112712 | 143875 | 0.28 | 52.5% |
| 2025-12-19 | 34 | 53652 | 78967 | 132619 | 0.68 | 478099 | 807174 | 1285273 | 0.59 | 51.15% |
| 2025-12-26 | 41 | 7115 | 10613 | 17728 | 0.67 | 35357 | 52047 | 87404 | 0.68 | 49.14% |
| 2026-01-02 | 48 | 4933 | 6317 | 11250 | 0.78 | 1313 | 3494 | 4807 | 0.38 | 48.07% |
| 2026-01-16 | 62 | 24187 | 54296 | 78483 | 0.45 | 490270 | 912465 | 1402735 | 0.54 | 47.47% |
| 2026-02-20 | 97 | 6779 | 14908 | 21687 | 0.45 | 152719 | 162698 | 315417 | 0.94 | 46.42% |
| 2026-03-20 | 125 | 7621 | 13055 | 20676 | 0.58 | 237292 | 389751 | 627043 | 0.61 | 47.83% |
| 2026-04-17 | 153 | 2616 | 5495 | 8111 | 0.48 | 82200 | 62630 | 144830 | 1.31 | 46.97% |
| 2026-05-15 | 181 | 4924 | 3051 | 7975 | 1.61 | 68446 | 43765 | 112211 | 1.56 | 46.71% |
| 2026-06-18 | 215 | 3803 | 7612 | 11415 | 0.5 | 188777 | 363794 | 552571 | 0.52 | 46.79% |
| 2026-08-21 | 279 | 1698 | 1423 | 3121 | 1.19 | 56873 | 20230 | 77103 | 2.81 | 46.16% |
| 2026-09-18 | 307 | 1045 | 1384 | 2429 | 0.76 | 91996 | 100376 | 192372 | 0.92 | 46.48% |
| 2026-12-18 | 398 | 895 | 2135 | 3030 | 0.42 | 72030 | 257896 | 329926 | 0.28 | 46.33% |
| 2027-01-15 | 426 | 2331 | 3386 | 5717 | 0.69 | 101545 | 197408 | 298953 | 0.51 | 46.41% |
| 2027-06-17 | 579 | 146 | 566 | 712 | 0.26 | 28635 | 80512 | 109147 | 0.36 | 46.3% |
| 2027-09-17 | 671 | 54 | 149 | 203 | 0.36 | 102 | 534 | 636 | 0.19 | 45.84% |
| 2027-12-17 | 762 | 1030 | 1181 | 2211 | 0.87 | 42061 | 172894 | 214955 | 0.24 | 46.23% |
| 2028-01-21 | 797 | 779 | 3523 | 4302 | 0.22 | 21369 | 50620 | 71989 | 0.42 | 46.13% |
Understanding Open Interest & Volume
What are Open Interest and Volume?
Open Interest (OI) is the total number of outstanding options contracts for a given strike and expiration. It represents the total number of open positions. Volume is the number of contracts traded during the current session. High OI indicates that a strike is significant, as a large amount of capital is positioned there.
How to Interpret This Data
- High OI Strikes: Strikes with unusually high open interest often act as "magnets" or barriers for the stock price, especially near expiration, due to the hedging activities of market makers.
- Put/Call Ratios: The ratio of put OI to call OI is a common sentiment indicator. A high ratio can suggest bearish sentiment (more puts than calls), while a low ratio can suggest bullishness.
- Volume vs. OI: When daily volume exceeds open interest at a particular strike, it signals that new positions are being initiated with conviction, indicating fresh interest at that price level.
Practical Applications
- Identify significant support and resistance levels based on OI concentration (often called "walls").
- Gauge market sentiment and potential for trend continuation or reversal by analyzing Put/Call ratios.
- Confirm the significance of a price level by looking for a corresponding spike in both volume and open interest.