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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-09-12 | -1 | 322236 | 693491 | 1015727 | 0.46 | 322236 | 693491 | 1015727 | 0.46 | 107.16% |
| 2025-09-19 | 6 | 649897 | 1190996 | 1840893 | 0.55 | 649897 | 1190996 | 1840893 | 0.55 | 44.57% |
| 2025-09-26 | 13 | 103984 | 140255 | 244239 | 0.74 | 103984 | 140255 | 244239 | 0.74 | 35.28% |
| 2025-10-03 | 20 | 62382 | 78384 | 140766 | 0.8 | 62382 | 78384 | 140766 | 0.8 | 34.64% |
| 2025-10-10 | 27 | 27773 | 48884 | 76657 | 0.57 | 27773 | 48884 | 76657 | 0.57 | 35.27% |
| 2025-10-17 | 34 | 414262 | 433940 | 848202 | 0.95 | 414262 | 433940 | 848202 | 0.95 | 36.31% |
| 2025-10-24 | 41 | 29049 | 25158 | 54207 | 1.15 | 29049 | 25158 | 54207 | 1.15 | 35.67% |
| 2025-10-31 | 48 | 698 | 863 | 1561 | 0.81 | 698 | 863 | 1561 | 0.81 | 34.65% |
| 2025-11-21 | 69 | 186904 | 453468 | 640372 | 0.41 | 186904 | 453468 | 640372 | 0.41 | 39.33% |
| 2025-12-19 | 97 | 161326 | 316202 | 477528 | 0.51 | 161326 | 316202 | 477528 | 0.51 | 38.19% |
| 2026-01-16 | 125 | 235803 | 375209 | 611012 | 0.63 | 235803 | 375209 | 611012 | 0.63 | 38.08% |
| 2026-02-20 | 160 | 32840 | 56716 | 89556 | 0.58 | 32840 | 56716 | 89556 | 0.58 | 37.95% |
| 2026-03-20 | 188 | 58314 | 166803 | 225117 | 0.35 | 58314 | 166803 | 225117 | 0.35 | 39.62% |
| 2026-04-17 | 216 | 2656 | 10684 | 13340 | 0.25 | 2656 | 10684 | 13340 | 0.25 | 38.66% |
| 2026-05-15 | 244 | 3446 | 7822 | 11268 | 0.44 | 3446 | 7822 | 11268 | 0.44 | 38.71% |
| 2026-06-18 | 278 | 22299 | 97861 | 120160 | 0.23 | 22299 | 97861 | 120160 | 0.23 | 39.53% |
| 2026-08-21 | 342 | 925 | 6223 | 7148 | 0.15 | 925 | 6223 | 7148 | 0.15 | 38.62% |
| 2026-09-18 | 370 | 3459 | 13136 | 16595 | 0.26 | 3459 | 13136 | 16595 | 0.26 | 40.14% |
| 2026-12-18 | 461 | 6725 | 81009 | 87734 | 0.08 | 6725 | 81009 | 87734 | 0.08 | 39.81% |
| 2027-01-15 | 489 | 5003 | 135309 | 140312 | 0.04 | 5003 | 135309 | 140312 | 0.04 | 39.74% |
| 2027-06-17 | 642 | 5010 | 18395 | 23405 | 0.27 | 5010 | 18395 | 23405 | 0.27 | 40.1% |
| 2027-12-17 | 825 | 3159 | 60630 | 63789 | 0.05 | 3159 | 60630 | 63789 | 0.05 | 39.78% |
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.