OI Analysis: Read the Option Chain and Open Interest Like a Pro
Price tells you what has happened. Open interest hints at where traders have placed their money. That is why option traders watch it closely.
Open interest in simple words
Every option contract has a buyer and a seller. Open interest counts the contracts that are still open. If it rises, new positions are being added. If it falls, positions are being closed.
What you can see in EasyExecute
- Option chain: calls and puts by strike, with IV and build-up labels, and the highest volume and OI marked.
- Open Interest page: OI by strike for any index or stock, live or for an earlier day. Choose the expiries, the strikes around the price and a time window from the last 5 minutes to the full day.
- OI change: bars show added and removed OI. Replay change animates the window.
- Multi Strike OI: follow up to six contracts through the day on one chart.
- Expiry Levels: for one expiry, it adds up the money sellers have at each strike over the last trading days and lists the top 10 call and put strikes.
- OI on the chart: an open-interest pane for futures and options.
Two numbers worth knowing
- Put call ratio (PCR) is total put OI divided by total call OI. Example: 12 lakh put OI and 10 lakh call OI gives a PCR of 1.2.
- Break-even of a strike: for a call, strike plus the anchored VWAP of its price; for a put, strike minus it. Expiry Levels lists these for you.
A simple routine
- 1Start with the big picture
Open the option chain. Find the strikes with the highest call and put OI.
- 2Look at the change
Switch to OI change. Where is OI being added right now?
- 3Follow a few strikes
Use Multi Strike OI to follow the strikes that matter through the day.
- 4Plan the trade
Test an idea in the Strategy Builder before you place anything.
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Fill the early access form → Beta: open to a few invited users. Virtual account for now. No advice, no promise of profit.Questions people ask
What is open interest?
The number of option or futures contracts that are still open and not yet closed or expired.
What is the put call ratio?
Total put open interest divided by total call open interest.
Does high OI mean support or resistance?
It can act that way, but it can also break. Treat it as a tendency, never a promise.
Does EasyExecute show OI live?
Yes. You can view today live or pick an earlier day.