This page shows equity options with the largest increase and decrease in open interest from the previous trading session. Open Interest is the total number of open option contracts that have been traded but not yet liquidated by either an offsetting trade or an exercise or assignment. It gives you important information regarding whether there is an active secondary market for the option, and can be used as a tool to predict price trends along with reversals.
"Open Interest Change" represents the change in the number of option contracts traded but not yet liquidated. Since options can be bought and sold (with both types of transactions either opening or closing a transaction), it's important to understand what a large change in either direction for open interest may mean.
First, it's important to understand that you have no way of knowing whether the change in an option's open interest means the option was bought or sold. An trade can either increase or decrease open interest, so a significant change to this number simply means there are significant changes in traders' positions. When an option has a large shift in open interest, you should look at the shift relative to the volume of contracts traded. When volume is higher than open interest, that typically indicates that trading of the option was high for the day. Also, when an option has a large open interest, there is an active secondary market that makes it easier to trade the option at a reasonable spread between bid and ask.
A sharp increase in open interest typically indicates new money coming in, with a continuation of the present trend (up, down or neutral). A sharp decrease, conversely, is an indication that the market is liquidating. Look for the price trend to come to an end.
The page is initially sorted in ascending or descending daily Open Interest Change. You can re-sort the page by clicking on any of the column headings.
The number of options displayed is capped at the top 10 for both increase and decrease. In order to be included, an option needs to have volume of greater than 500 and open interest greater than 100.
Options information is delayed a minimum of 30 minutes, and is updated once an hour, with the first update at 10:30am ET.