Open interest: jo contracts abhi khule hue hain.
Doosre naam: OI, Open Interest (OI), open-interest, outstanding contracts, open contracts.
Is page ke kuch hisse abhi English mein hain.
Formula
Open Interest counts each open contract once (one long matched with one short), so it is not the sum of buy and sell sides. Change in OI for a period = OI at end of period − OI at start of period.
Ise kaise padhein
Ek contract tab banta hai jab ek taraf koi naya kharidne wala ho aur doosri taraf koi naya bechne wala. Us waqt open interest ek badh jaata hai. Dono mein se koi apni position band kare to ginti ghat jaati hai. Agar ek purana banda nikal jaaye aur ek naya uski jagah le le, ginti wahi rehti hai — sirf naam badla hai.
Isliye OI ka number activity ka nahi, bache hue exposure ka paimana hai. Din bhar mein bahut kaam ho sakta hai aur OI phir bhi lagbhag waisa hi rahe.
Ginti ka tareeka bhi seedha hai: har khula contract ek hi baar ginaa jaata hai, ek long ke saamne ek short. Isliye OI kabhi buy aur sell sides ka jod nahi hota. Kisi avadhi ka OI badlav bhi bas itna hai — us avadhi ke ant ka OI minus uski shuruaat ka OI.
OI akela bahut kam kehta hai. Use aam taur par daam ke badlav ke saath rakha jaata hai, aur usse 4 jaani-pehchani jodiyaan banti hain. Daam upar aur OI upar ko long buildup kaha jaata hai — naye long positions ban rahe hain. Daam neeche aur OI upar ko short buildup. Daam upar aur OI neeche ko short covering, yaani purane shorts band ho rahe hain. Aur daam neeche aur OI neeche ko long unwinding.
Log yeh bhi dekhte hain ki kis strike par sabse zyada khula pada hai, kyunki wahi level sabse zyada outstanding positions utha raha hota hai. Lekin yeh 4 naam sirf itna batate hain ki positions ne kya kiya. Uske baad kya hua, yeh unme se koi nahi kehta — aur label ko bhavishya samajh lena hi is data ki sabse aam galat padhai hai.
Volume har din zero se shuru hota hai: chuni hui avadhi mein kitne contracts trade hue, bas itni ginti. OI ek chalta hua total hai jo session ke baad bhi bacha rehta hai. Isi wajah se ek hi din bhaari volume ho sakta hai aur OI lagbhag wahi ka wahi rahe — jitne naye contracts bane, utne hi purane band ho gaye.
Dono ko ek doosre ka substitute maan lena aam galti hai. Volume batata hai ki kitna kaam hua. OI batata hai ki kaam ke baad kitna khula reh gaya. Isliye inhe alag-alag nahi, saath padha jaata hai — ek hi strike par bade volume ke saath girte OI ka matlab alag hota hai, aur bade volume ke saath badhte OI ka bilkul alag.
Yeh kya nahi batata
OI mein direction nahi hoti. Har khule contract ke 2 side hote hain, aur ginti dono ko ek saath ginti hai — isliye badhta OI apne aap na bullish hai na bearish.
Yeh bhi nahi pata chalta ki khuli position kis maqsad se hai. Ek hi number ke peeche koi apna stock hedge kar raha ho sakta hai aur koi sirf move par bet laga raha ho. Dono ek jaise dikhte hain.
Expiry ke aas-paas OI tez hil sakta hai, kyunki contracts ya toh settle ho rahe hote hain ya agli series mein roll. Aur exchange apni reporting cadence par data deta hai, isliye din ke beech ke figures aur din ke ant ke settled numbers alag ho sakte hain. Ek instrument ka OI akela padhna aasan hai — aur usse galat samajhne ka sabse aasan tareeka bhi. Uske saath daam, volume aur poori option chain rakhni padti hai.
Experiment mein dekho
Open Interest — Example contracts banao, transfer karo aur close karo. Open interest, volume aur rollover ki ginti mein kya badalta hai, dekho.
Market X-Ray mein ek input badlo aur dekho kya hota hai.
Market X-Ray: Option Chain — Option chain ke kaunse columns mere sawaal ka jawab dete hain?
Jude hue concepts
Open interest positions ginta hai, volume trades ginta hai.
Open interest khuli positions ginta hai, volume trades ginta hai. Ek contract ke 2 sides 2 positions nahi hote.
Lesson kholo