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Open Interest or OI is an integral data point of futures and options trading. Open Interest in Options trading is important from tradability perspective. One needs to choose the most participated option considering highest Open Interest for our option trading strategy.
It is a good filter when we have 100s of Options to choose from. Especially with indices like Nifty and Bank Nifty which has over 10 expiry trading at the same time having 50-100 options each expiry.
But on top of this Open Interest does have inputs for Options trading as well, these 6 secrets that we have carved out of the open interest data revolve around following characteristics
1. Single Strike Concentration of Options Open Interest – Trending (Resistance as Targets)
2. Option Writers Getting Trapped by the Move (Triggers)
3. Open Interest Clusters
4. Pull Back Cutters a.k.a. Opportunity Creator (Highest Put in Uptrend, Call in Down Trend)
5. OIPCR or Puts Vs Calls OI as Bias Indicator
This video reveals 5 secrets of option open interest in option trading. The use of option chain to observe the open interest and deciding technical levels like Resistance and Support has been described.
The discussion also revolves around OI structures, which has been discussed to understand consolidation and possible option breakout scenarios, if the option sellers are trapped or caught on wrong foot. The open interest- put call ratio is an important metric to study and observe to understand the positioning of the markets.
At Quantsapp, India’s largest option trading analytics platform, we strongly believe option traders in India, to be equipped with sound data analytics and become a data driven trader, rather than basing their trades on intuition or gut-feeling.
In This Video:
00:00 Introduction
02:00 Discussion of first secret concerning option open interest
03:31 Discussion using option chain regarding second secret
07:20 3 rd secret revealed
09:30 4 th secret explained
11:33 5 th secret illustrated and explained
14:57 Closing remarks
One must have proper tools to analyze such special data point. In this video Open Interest Trading Strategy we have used tools developed by Quantsapp, India’s premium option analytics platform. Following links can be visited to go through them in detail
Triggers
→Open Interest
→Option Chain
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